HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.

Other research analysts have also recently issued reports about the stock. Scotiabank reissued a “sector perform” rating and issued a $35.00 price objective (up from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. William Blair cut HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. KeyCorp began coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a research report on Thursday, March 7th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.77.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $32.81 on Thursday. The stock has a market capitalization of $6.55 billion, a PE ratio of -33.48 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The business has a fifty day moving average price of $27.50 and a two-hundred day moving average price of $24.09.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $149.47 million. On average, equities analysts expect that HashiCorp will post -0.8 EPS for the current year.

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $21.82, for a total transaction of $783,425.28. Following the transaction, the chief technology officer now owns 1,768,876 shares in the company, valued at $38,596,874.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the transaction, the chief technology officer now directly owns 1,768,876 shares of the company’s stock, valued at $38,596,874.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Navam Welihinda sold 2,500 shares of HashiCorp stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total transaction of $54,600.00. Following the completion of the sale, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at approximately $1,372,512.96. The disclosure for this sale can be found here. Insiders sold 267,427 shares of company stock worth $7,076,511 in the last quarter. 26.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its position 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 purchasing an additional 615 shares in the last quarter. Industry Ventures L.L.C. bought a new position in shares of HashiCorp in the fourth quarter valued at approximately $157,000. Victory Capital Management Inc. increased its position in shares of HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after acquiring an additional 2,768 shares during the last quarter. Xponance Inc. lifted its holdings in HashiCorp by 6.7% during the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after acquiring an additional 673 shares during the period. Finally, Principal Financial Group Inc. boosted its position in HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after purchasing an additional 978 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

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.