Evercore ISI Begins Coverage on HubSpot, Inc. (HUBS)
Equities research analysts at Evercore ISI began coverage on shares of HubSpot, Inc. (NYSE:HUBS) in a research report issued to clients and investors on Friday. The firm set an “outperform” rating and a $90.00 price target on the software maker’s stock. Evercore ISI’s price target points to a potential upside of 26.58% from the stock’s previous close.
Several other research analysts also recently issued reports on HUBS. UBS AG reiterated an “outperform” rating and set a $80.00 price target (up from $78.00) on shares of HubSpot in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of HubSpot in a report on Wednesday, August 9th. Canaccord Genuity increased their price objective on HubSpot from $80.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Cowen and Company restated a “market perform” rating and issued a $69.00 price objective (up from $63.00) on shares of HubSpot in a report on Friday, August 4th. Finally, Zacks Investment Research downgraded HubSpot from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. HubSpot has a consensus rating of “Buy” and a consensus target price of $73.00.
HubSpot (HUBS) traded up 1.76% during midday trading on Friday, hitting $72.35. The stock had a trading volume of 48,284 shares. The company has a 50-day moving average of $70.99 and a 200-day moving average of $67.04. The stock’s market cap is $2.68 billion. HubSpot has a 1-year low of $44.90 and a 1-year high of $78.50.
HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $89.10 million during the quarter, compared to the consensus estimate of $85.80 million. HubSpot had a negative net margin of 13.17% and a negative return on equity of 27.99%. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. Equities research analysts forecast that HubSpot will post $0.05 EPS for the current year.
In related news, insider Hunter Madeley sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $63.70, for a total value of $63,700.00. Following the transaction, the insider now owns 87,211 shares of the company’s stock, valued at approximately $5,555,340.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lorrie M. Norrington sold 4,899 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $65.25, for a total transaction of $319,659.75. Following the completion of the transaction, the director now directly owns 2,164 shares in the company, valued at approximately $141,201. The disclosure for this sale can be found here. Insiders have sold a total of 62,899 shares of company stock worth $4,247,680 in the last three months. Insiders own 18.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd lifted its position in HubSpot by 153.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,706 shares of the software maker’s stock valued at $103,000 after acquiring an additional 1,032 shares in the last quarter. ETF Managers Group LLC bought a new position in HubSpot in the 2nd quarter valued at about $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in HubSpot by 136.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,720 shares of the software maker’s stock valued at $113,000 after acquiring an additional 994 shares in the last quarter. Sei Investments Co. lifted its position in HubSpot by 41.3% in the 2nd quarter. Sei Investments Co. now owns 2,157 shares of the software maker’s stock valued at $142,000 after acquiring an additional 631 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in HubSpot in the 1st quarter valued at about $151,000. 96.08% of the stock is currently owned by institutional investors and hedge funds.
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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