Canaccord Genuity Group Cuts HubSpot (NYSE:HUBS) Price Target to $700.00

HubSpot (NYSE:HUBS) had its price target cut by research analysts at Canaccord Genuity Group from $750.00 to $700.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 19.22% from the company’s current price.

Several other research firms have also commented on HUBS. UBS Group reissued a “neutral” rating and set a $525.00 target price on shares of HubSpot in a research note on Thursday, February 15th. KeyCorp assumed coverage on HubSpot in a research report on Thursday, March 21st. They set an “underweight” rating and a $520.00 target price on the stock. Truist Financial increased their price target on HubSpot from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Wolfe Research boosted their price objective on HubSpot from $660.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group lifted their target price on shares of HubSpot from $577.00 to $656.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, HubSpot has an average rating of “Moderate Buy” and an average price target of $637.27.

HubSpot Price Performance

HUBS stock traded down $2.90 during trading on Thursday, hitting $587.15. The company had a trading volume of 2,071,452 shares, compared to its average volume of 519,989. The firm has a market capitalization of $29.89 billion, a price-to-earnings ratio of -165.29 and a beta of 1.57. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $628.65 and a 200 day moving average of $567.79. HubSpot has a fifty-two week low of $407.23 and a fifty-two week high of $693.85.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 14th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.22. The firm had revenue of $581.91 million during the quarter, compared to analyst estimates of $557.48 million. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. As a group, research analysts predict that HubSpot will post -0.98 earnings per share for the current year.

Insider Buying and Selling at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total value of $5,407,530.00. Following the completion of the transaction, the insider now owns 526,041 shares in the company, valued at approximately $334,656,763.38. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Dawson Alyssa Harvey sold 1,086 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $618.25, for a total transaction of $671,419.50. Following the completion of the sale, the insider now owns 7,783 shares in the company, valued at approximately $4,811,839.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the completion of the transaction, the insider now owns 526,041 shares of the company’s stock, valued at approximately $334,656,763.38. The disclosure for this sale can be found here. Insiders sold a total of 21,393 shares of company stock valued at $13,421,401 in the last quarter. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of HubSpot

A number of hedge funds and other institutional investors have recently made changes to their positions in HUBS. Riverview Trust Co bought a new position in shares of HubSpot in the first quarter worth about $27,000. Rakuten Securities Inc. acquired a new position in HubSpot during the 4th quarter worth $29,000. Geneos Wealth Management Inc. boosted its position in HubSpot by 1,125.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock valued at $31,000 after buying an additional 45 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of HubSpot by 335.7% in the 4th quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock valued at $35,000 after buying an additional 47 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in HubSpot by 1,380.0% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock valued at $43,000 after acquiring an additional 69 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Company Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.