HashiCorp (NASDAQ:HCP) Upgraded to “Hold” at StockNews.com

HashiCorp (NASDAQ:HCP) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the stock. Scotiabank raised shares of HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 price target on the stock in a research report on Tuesday, March 12th. Stifel Nicolaus increased their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley upgraded shares of HashiCorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $30.00 in a research report on Monday, February 26th. Citigroup increased their price target on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 22nd. Finally, TD Cowen boosted their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.77.

HashiCorp Price Performance

Shares of HCP opened at $23.53 on Tuesday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The firm has a market capitalization of $4.70 billion, a PE ratio of -24.01 and a beta of 1.42. The company’s 50-day moving average is $25.51 and its 200-day moving average is $23.17.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. Analysts predict that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.94, for a total transaction of $787,733.76. Following the transaction, the chief technology officer now directly owns 1,840,684 shares in the company, valued at approximately $40,384,606.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.94, for a total value of $787,733.76. Following the completion of the sale, the chief technology officer now directly owns 1,840,684 shares in the company, valued at approximately $40,384,606.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total value of $365,990.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,577 shares of company stock valued at $6,484,004. 26.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Citigroup Inc. raised its position in HashiCorp by 167.6% in the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after buying an additional 575 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of HashiCorp during the first quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its holdings in HashiCorp by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in HashiCorp by 94.8% during the third quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $40,000 after purchasing an additional 857 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in HashiCorp by 188.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock worth $46,000 after purchasing an additional 1,155 shares in the last quarter. 87.83% of the stock is owned by institutional investors.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.