Morgan Stanley Increases HubSpot, Inc. (NYSE:HUBS) Price Target to $80.00
HubSpot, Inc. (NYSE:HUBS) had its target price hoisted by Morgan Stanley from $78.00 to $80.00 in a report released on Thursday. The brokerage currently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s target price indicates a potential upside of 8.18% from the stock’s current price.
Several other equities research analysts have also recently commented on HUBS. UBS AG reissued a “buy” rating and set a $70.00 target price on shares of HubSpot in a report on Tuesday, March 28th. Oppenheimer Holdings, Inc. set a $70.00 target price on HubSpot and gave the stock a “buy” rating in a report on Tuesday, March 28th. CIBC reaffirmed a “buy” rating and issued a $70.00 price target on shares of HubSpot in a report on Wednesday, March 29th. BTIG Research raised HubSpot from a “neutral” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Friday, March 31st. Finally, Guggenheim started coverage on HubSpot in a report on Thursday, April 13th. They issued a “buy” rating and a $70.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $70.29.
HubSpot (NYSE HUBS) traded down 0.20% during trading on Thursday, reaching $73.95. The company had a trading volume of 758,312 shares. HubSpot has a 52-week low of $44.90 and a 52-week high of $78.50. The firm’s market capitalization is $2.70 billion. The company has a 50-day moving average of $69.42 and a 200-day moving average of $62.69.
HubSpot (NYSE:HUBS) last announced its earnings results on Tuesday, May 2nd. The software maker reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.11. HubSpot had a negative return on equity of 35.75% and a negative net margin of 14.78%. The firm had revenue of $82.25 million for the quarter, compared to analysts’ expectations of $79.33 million. Analysts expect that HubSpot will post ($0.08) EPS for the current fiscal year.
In other news, CEO Brian Halligan sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $64.75, for a total transaction of $1,618,750.00. Following the completion of the transaction, the chief executive officer now owns 806,787 shares of the company’s stock, valued at $52,239,458.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hunter Madeley sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $63.70, for a total transaction of $63,700.00. Following the transaction, the insider now directly owns 87,211 shares of the company’s stock, valued at approximately $5,555,340.70. The disclosure for this sale can be found here. Insiders have sold 49,446 shares of company stock valued at $3,260,644 in the last ninety days. 18.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HUBS. Point72 Asia Hong Kong Ltd raised its position in HubSpot by 153.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,706 shares of the software maker’s stock valued at $103,000 after buying an additional 1,032 shares during the period. Ameritas Investment Partners Inc. acquired a new position in HubSpot during the first quarter valued at about $151,000. Independent Portfolio Consultants Inc. raised its position in HubSpot by 168.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,903 shares of the software maker’s stock valued at $191,000 after buying an additional 1,823 shares during the period. Amalgamated Bank acquired a new position in HubSpot during the first quarter valued at about $214,000. Finally, Juncture Wealth Strategies LLC acquired a new position in HubSpot during the first quarter valued at about $241,000. 92.48% of the stock is owned by hedge funds and other institutional investors.
HubSpot, Inc (HubSpot) provides a cloud-based marketing and sales software platform. The Company’s software platform features integrated applications to help businesses attract visitors to their Websites, convert visitors into leads, close leads into customers and delight customers so that they become promoters of those businesses.
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