HubSpot (NYSE:HUBS) Price Target Raised to $870.00

HubSpot (NYSE:HUBS) had its target price boosted by Needham & Company LLC from $680.00 to $870.00 in a research note issued to investors on Wednesday, Analyst Price Targets reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. Truist lifted their price target on HubSpot from $600.00 to $700.00 and gave the company a buy rating in a research report on Thursday, August 5th. Canaccord Genuity lifted their price target on HubSpot from $580.00 to $685.00 and gave the company a buy rating in a research report on Thursday, August 5th. Piper Sandler lifted their price target on HubSpot from $615.00 to $675.00 and gave the company an overweight rating in a research report on Thursday, August 5th. Mizuho lifted their price target on HubSpot from $570.00 to $660.00 and gave the company a buy rating in a research report on Thursday, August 5th. Finally, Citigroup raised their price objective on HubSpot from $655.00 to $750.00 and gave the stock a buy rating in a research note on Thursday, August 5th. Twenty-two research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $763.48.

HUBS opened at $786.25 on Wednesday. HubSpot has a 12 month low of $283.87 and a 12 month high of $814.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market cap of $36.96 billion, a P/E ratio of -422.71 and a beta of 1.67. The stock’s 50 day moving average price is $682.63 and its 200 day moving average price is $586.89.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, August 4th. The software maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. HubSpot had a negative return on equity of 7.35% and a negative net margin of 7.98%. The firm had revenue of $310.80 million for the quarter, compared to analysts’ expectations of $296.01 million. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue was up 52.7% compared to the same quarter last year. Equities analysts anticipate that HubSpot will post -1.5 EPS for the current year.

In other news, insider Brian Halligan sold 11,520 shares of HubSpot stock in a transaction dated Tuesday, September 21st. The stock was sold at an average price of $686.85, for a total value of $7,912,512.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Dharmesh Shah sold 9,327 shares of HubSpot stock in a transaction dated Tuesday, October 5th. The stock was sold at an average price of $651.85, for a total value of $6,079,804.95. The disclosure for this sale can be found here. Insiders sold 33,567 shares of company stock worth $21,130,215 over the last quarter. 6.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in HubSpot by 9.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,818,404 shares of the software maker’s stock worth $2,225,060,000 after buying an additional 323,506 shares in the last quarter. Artisan Partners Limited Partnership grew its position in HubSpot by 3.2% during the second quarter. Artisan Partners Limited Partnership now owns 1,924,154 shares of the software maker’s stock worth $1,121,243,000 after buying an additional 60,276 shares in the last quarter. Jennison Associates LLC grew its position in HubSpot by 455.7% during the second quarter. Jennison Associates LLC now owns 697,376 shares of the software maker’s stock worth $406,375,000 after buying an additional 571,882 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in HubSpot during the second quarter worth about $357,338,000. Finally, Geode Capital Management LLC grew its position in HubSpot by 11.0% during the second quarter. Geode Capital Management LLC now owns 566,585 shares of the software maker’s stock worth $329,686,000 after buying an additional 56,338 shares in the last quarter. 89.74% of the stock is currently owned by institutional investors and hedge funds.

About HubSpot

HubSpot, Inc develops Internet marketing software solutions. The firm operates through the following geographical segments: Americas, Europe and Asia Pacific. The company was founded by Brian Patrick Halligan and Dharmesh Shah on April 4, 2005 and is headquartered in Cambridge, MA.

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