HubSpot’s (HUBS) “Buy” Rating Reiterated at Needham & Company LLC

HubSpot (NYSE:HUBS)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $900.00 price target on the software maker’s stock. Needham & Company LLC’s price target suggests a potential upside of 49.42% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. BNP Paribas started coverage on HubSpot in a report on Tuesday, April 22nd. They set an “outperform” rating and a $700.00 price target on the stock. Scotiabank decreased their price target on shares of HubSpot from $900.00 to $750.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 24th. KeyCorp raised HubSpot from a “sector weight” rating to an “overweight” rating and set a $920.00 target price for the company in a research report on Thursday, February 13th. Truist Financial lowered their target price on HubSpot from $900.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays raised shares of HubSpot from an “equal weight” rating to an “overweight” rating and set a $815.00 price objective on the stock in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, HubSpot has a consensus rating of “Moderate Buy” and an average price target of $772.56.

HubSpot Stock Performance

NYSE:HUBS opened at $602.31 on Friday. HubSpot has a 52 week low of $434.84 and a 52 week high of $881.13. The firm’s fifty day moving average is $584.93 and its 200-day moving average is $667.48. The firm has a market cap of $31.70 billion, a P/E ratio of 6,693.08, a P/E/G ratio of 41.44 and a beta of 1.78.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a net margin of 0.17% and a negative return on equity of 0.07%. As a group, sell-side analysts anticipate that HubSpot will post 1.01 earnings per share for the current year.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 2,382 shares of HubSpot stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the transaction, the chief executive officer now owns 72,373 shares in the company, valued at $41,536,312.16. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the completion of the transaction, the insider now directly owns 527,233 shares of the company’s stock, valued at approximately $320,283,502.84. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,562 shares of company stock worth $18,401,757. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Several institutional investors have recently made changes to their positions in the stock. Elequin Capital LP purchased a new position in shares of HubSpot in the fourth quarter valued at $27,000. Larson Financial Group LLC increased its position in shares of HubSpot by 168.8% during the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock valued at $30,000 after buying an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of HubSpot by 73.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock worth $31,000 after buying an additional 19 shares in the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of HubSpot by 91.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock valued at $32,000 after acquiring an additional 22 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in HubSpot during the third quarter valued at approximately $25,000. Hedge funds and other institutional investors 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.