HashiCorp (NASDAQ:HCP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a research note published on Tuesday morning.

Other analysts also recently issued research reports about the stock. Oppenheimer reissued an outperform rating and issued a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. TD Cowen boosted their price objective on HashiCorp from $23.00 to $26.00 and gave the company a market perform rating in a report on Wednesday, March 6th. JMP Securities reaffirmed a market outperform rating and issued a $38.00 price objective on shares of HashiCorp in a research report on Thursday, March 7th. Morgan Stanley upgraded HashiCorp from an equal weight rating to an overweight rating and lifted their target price for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Finally, Piper Sandler restated a neutral rating and issued a $25.00 price target (up from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, HashiCorp currently has an average rating of Moderate Buy and an average target price of $28.77.

HashiCorp Stock Performance

NASDAQ HCP opened at $23.63 on Tuesday. The business’s 50 day moving average price is $25.49 and its 200-day moving average price is $23.17. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The company has a market cap of $4.72 billion, a P/E ratio of -24.11 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS 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 company had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. As a group, equities analysts predict that HashiCorp will post -0.8 EPS for the current year.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.94, for a total value of $787,733.76. Following the completion of the transaction, the chief technology officer now owns 1,840,684 shares of the company’s stock, valued at $40,384,606.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the completion of the sale, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at $1,379,425.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.94, for a total transaction of $787,733.76. Following the completion of the sale, the chief technology officer now owns 1,840,684 shares in the company, valued at $40,384,606.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,577 shares of company stock valued at $6,484,004. Company insiders own 26.13% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. boosted its holdings in HashiCorp by 167.6% in the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after acquiring an additional 575 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in HashiCorp in the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its position in HashiCorp by 82.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after purchasing an additional 766 shares during the last quarter. Advisors Asset Management Inc. increased its stake in HashiCorp by 94.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock valued at $40,000 after purchasing an additional 857 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of HashiCorp by 188.1% in the second quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock worth $46,000 after buying an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

About HashiCorp

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.