HubSpot (NYSE:HUBS) Price Target Raised to $710.00

HubSpot (NYSE:HUBS) had its price target increased by Canaccord Genuity Group from $600.00 to $710.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other brokerages have also recently weighed in on HUBS. Truist Financial reiterated a “buy” rating and set a $600.00 price target (down from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Citigroup lowered their price target on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Bank of America cut their price objective on HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler cut HubSpot from an “overweight” rating to a “neutral” rating and raised their target price for the company from $570.00 to $640.00 in a report on Thursday. Finally, KeyCorp upgraded shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, HubSpot has an average rating of “Moderate Buy” and an average target price of $666.26.

HubSpot Stock Up 1.9 %

Shares of HubSpot stock traded up $11.95 during mid-day trading on Thursday, hitting $656.56. The stock had a trading volume of 947,094 shares, compared to its average volume of 380,530. The firm has a market cap of $33.89 billion, a P/E ratio of -2,431.70, a price-to-earnings-growth ratio of 7,948.12 and a beta of 1.63. The firm has a 50-day moving average of $535.45 and a two-hundred day moving average of $546.83. HubSpot has a 12-month low of $413.07 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.27. The company had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.22% and a negative net margin of 0.56%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share.

Insider Buying and Selling at HubSpot

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

Institutional Trading of HubSpot

A number of large investors have recently bought and sold shares of HUBS. Intech Investment Management LLC increased its stake in HubSpot by 14.9% in the third quarter. Intech Investment Management LLC now owns 2,788 shares of the software maker’s stock valued at $1,482,000 after purchasing an additional 362 shares during the period. Moran Wealth Management LLC grew its stake in shares of HubSpot by 70.4% in the 3rd quarter. Moran Wealth Management LLC now owns 1,285 shares of the software maker’s stock valued at $683,000 after purchasing an additional 531 shares during the last quarter. Altman Advisors Inc. acquired a new position in shares of HubSpot in the third quarter valued at approximately $1,704,000. Bellwether Advisors LLC acquired a new stake in shares of HubSpot during the third quarter worth $4,187,000. Finally, Anthracite Investment Company Inc. purchased a new position in HubSpot in the 3rd quarter valued at $2,552,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Company Profile

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.