BTIG Research Begins Coverage on HubSpot (NYSE:HUBS)

Investment analysts at BTIG Research initiated coverage on shares of HubSpot (NYSE:HUBS) in a research note issued on Monday. The firm set a “buy” rating and a $500.00 price target on the software maker’s stock. BTIG Research’s price objective would suggest a potential upside of 25.69% from the company’s previous close.

HUBS has been the subject of several other research reports. Piper Sandler reduced their price objective on shares of HubSpot from $675.00 to $590.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HubSpot in a report on Tuesday, October 14th. Wells Fargo & Company decreased their target price on shares of HubSpot from $685.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. KeyCorp lowered their price objective on HubSpot from $775.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group dropped their target price on HubSpot from $717.00 to $612.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $614.26.

HubSpot Stock Up 4.8%

Shares of HubSpot stock opened at $397.82 on Monday. The company has a market capitalization of $20.84 billion, a PE ratio of -4,972.74, a price-to-earnings-growth ratio of 8.91 and a beta of 1.46. HubSpot has a 52 week low of $344.41 and a 52 week high of $881.13. The stock’s fifty day moving average is $394.13 and its two-hundred day moving average is $460.33.

HubSpot (NYSE:HUBS) last issued its earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.08. The business had revenue of $809.52 million during the quarter, compared to analysts’ expectations of $786.80 million. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.18 EPS. As a group, research analysts anticipate that HubSpot will post 1.01 earnings per share for the current year.

Insider Buying and Selling at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $366.99, for a total value of $3,119,415.00. Following the sale, the director directly owned 496,308 shares of the company’s stock, valued at approximately $182,140,072.92. The trade was a 1.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 25,500 shares of company stock worth $10,058,565 in the last ninety days. 4.00% of the stock is owned by company insiders.

Institutional Trading of HubSpot

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its stake in HubSpot by 548.6% during the second quarter. Jennison Associates LLC now owns 794,677 shares of the software maker’s stock worth $442,341,000 after purchasing an additional 672,158 shares in the last quarter. Norges Bank acquired a new stake in shares of HubSpot in the second quarter valued at $269,941,000. Vanguard Group Inc. raised its holdings in shares of HubSpot by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker’s stock valued at $2,683,659,000 after buying an additional 345,524 shares during the period. AQR Capital Management LLC raised its holdings in shares of HubSpot by 89.2% in the 3rd quarter. AQR Capital Management LLC now owns 546,436 shares of the software maker’s stock valued at $255,623,000 after buying an additional 257,577 shares during the period. Finally, Atreides Management LP acquired a new position in HubSpot during the 3rd quarter worth about $113,878,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.