Scotiabank Reiterates “Sector Perform” Rating for HashiCorp (NASDAQ:HCP)

Scotiabank reissued their sector perform rating on shares of HashiCorp (NASDAQ:HCP) in a research report released on Thursday, Benzinga reports. Scotiabank currently has a $35.00 price target on the stock, up from their previous price target of $31.00.

Several other research analysts also recently commented on the company. TD Cowen lifted their target price on HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a report on Wednesday, March 6th. Stifel Nicolaus lifted their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. JMP Securities reissued a market outperform rating and set a $38.00 target price on shares of HashiCorp in a research report on Thursday, March 7th. Needham & Company LLC restated a hold rating on shares of HashiCorp in a research report on Thursday. Finally, StockNews.com upgraded shares of HashiCorp from a sell rating to a hold rating in a research report on Monday, April 22nd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $30.77.

HashiCorp Trading Down 0.7 %

Shares of HCP stock opened at $32.59 on Thursday. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of -33.26 and a beta of 1.42. The business’s 50-day moving average price is $26.08 and its 200-day moving average price is $23.46. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39.

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

Insider Buying and Selling

In other news, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total value of $83,520.00. Following the completion of the transaction, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at $2,614,872. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO David Mcjannet sold 33,331 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.38, for a total transaction of $912,602.78. Following the completion of the transaction, the chief executive officer now directly owns 326,912 shares of the company’s stock, valued at approximately $8,950,850.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Navam Welihinda sold 3,000 shares of HashiCorp stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the completion of the sale, the chief financial officer now directly owns 93,925 shares in the company, valued at approximately $2,614,872. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,427 shares of company stock worth $6,728,242. 26.13% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Large investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its holdings in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares during the last quarter. Industry Ventures L.L.C. bought a new stake in shares of HashiCorp in the fourth quarter valued at approximately $157,000. Victory Capital Management Inc. lifted its stake in shares of HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after buying an additional 2,768 shares in the last quarter. Xponance Inc. boosted its holdings in HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after buying an additional 673 shares during the period. Finally, Principal Financial Group Inc. grew its stake in HashiCorp by 10.0% in the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after buying an additional 978 shares in the last quarter. 87.83% of the stock is owned by hedge funds and other 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.