HubSpot (NYSE:HUBS) Given New $690.00 Price Target at The Goldman Sachs Group

HubSpot (NYSE:HUBS) had its target price lifted by analysts at The Goldman Sachs Group from $626.00 to $690.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 5.09% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Evercore ISI increased their price objective on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a research report on Thursday. Piper Sandler lowered HubSpot from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $570.00 to $640.00 in a research report on Thursday. Bank of America reduced their target price on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays lowered their price objective on HubSpot from $575.00 to $500.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 target price on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $660.96.

HubSpot Stock Up 1.9 %

HUBS stock opened at $656.56 on Thursday. HubSpot has a 52-week low of $413.07 and a 52-week high of $693.85. The business has a fifty day moving average of $535.45 and a two-hundred day moving average of $546.83. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of -2,432.06, a price-to-earnings-growth ratio of 7,948.12 and a beta of 1.63.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.22%. The company had revenue of $637.20 million for the quarter, compared to analysts’ expectations of $619.28 million. During the same quarter in the prior year, the company posted ($1.17) earnings per share. HubSpot’s revenue for the quarter was up 20.4% compared to the same quarter last year.

Insider Activity

In related news, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other HubSpot news, CFO Kathryn Bueker sold 1,136 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $597,354.24. Following the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $21,695,632.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,937 shares of company stock valued at $3,194,673 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of HubSpot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock valued at $3,025,964,000 after acquiring an additional 39,098 shares during the period. Price T Rowe Associates Inc. MD increased its stake in HubSpot by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock valued at $1,211,535,000 after purchasing an additional 176,336 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in HubSpot by 0.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 484,586 shares of the software maker’s stock worth $285,804,000 after purchasing an additional 3,775 shares during the last quarter. Capital Research Global Investors boosted its position in HubSpot by 0.9% during the first quarter. Capital Research Global Investors now owns 452,210 shares of the software maker’s stock worth $283,337,000 after purchasing an additional 4,242 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in HubSpot by 88.7% during the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock worth $142,468,000 after purchasing an additional 113,555 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

About HubSpot

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.