HubSpot, Inc. (NYSE:HUBS) Price Target Raised to $80.00 at Morgan Stanley
HubSpot, Inc. (NYSE:HUBS) had its target price increased by Morgan Stanley from $78.00 to $80.00 in a report released on Thursday. Morgan Stanley currently has an overweight rating on the software maker’s stock.
HUBS has been the topic of a number of other reports. Guggenheim assumed coverage on HubSpot in a research note on Thursday, April 13th. They issued a buy rating and a $70.00 price objective on the stock. UBS AG reiterated a buy rating and issued a $70.00 price objective on shares of HubSpot in a research note on Tuesday, March 28th. Cowen and Company restated a market perform rating and set a $63.00 price target (up from $53.00) on shares of HubSpot in a research note on Thursday, May 4th. Stifel Nicolaus restated a buy rating and set a $75.00 price target (up from $64.00) on shares of HubSpot in a research note on Thursday, May 4th. Finally, Oppenheimer Holdings, Inc. set a $78.00 price target on HubSpot and gave the company a buy rating in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $70.29.
Shares of HubSpot (NYSE:HUBS) traded down 0.47% during midday trading on Thursday, reaching $73.60. The company’s stock had a trading volume of 365,843 shares. The stock’s market capitalization is $2.69 billion. The stock’s 50-day moving average is $69.48 and its 200 day moving average is $62.77. HubSpot has a 12 month low of $44.90 and a 12 month high of $78.50.
HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Tuesday, May 2nd. The software maker reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. The business had revenue of $82.25 million for the quarter, compared to analyst estimates of $79.33 million. HubSpot had a negative return on equity of 35.75% and a negative net margin of 14.78%. On average, analysts expect that HubSpot will post ($0.08) earnings per share for the current fiscal year.
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In other news, insider Hunter Madeley sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $63.70, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Kinzer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $69.40, for a total value of $694,000.00. Following the completion of the transaction, the chief financial officer now directly owns 81,658 shares in the company, valued at $5,667,065.20. The disclosure for this sale can be found here. Insiders sold a total of 49,446 shares of company stock worth $3,260,644 over the last three months. 18.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in HUBS. BlackRock Inc. increased its position in shares of HubSpot by 82,588.5% in the first quarter. BlackRock Inc. now owns 2,130,883 shares of the software maker’s stock valued at $129,025,000 after buying an additional 2,128,306 shares during the last quarter. First Trust Advisors LP increased its position in shares of HubSpot by 2,526.6% in the first quarter. First Trust Advisors LP now owns 796,410 shares of the software maker’s stock valued at $48,223,000 after buying an additional 766,089 shares during the last quarter. Norges Bank acquired a new position in shares of HubSpot during the fourth quarter valued at approximately $23,160,000. Bank of New York Mellon Corp increased its position in shares of HubSpot by 24.9% in the first quarter. Bank of New York Mellon Corp now owns 965,891 shares of the software maker’s stock valued at $58,485,000 after buying an additional 192,602 shares during the last quarter. Finally, California Public Employees Retirement System acquired a new position in shares of HubSpot during the first quarter valued at approximately $11,632,000. 92.48% 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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