Truist Financial Issues Pessimistic Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its target price lowered by investment analysts at Truist Financial from $675.00 to $650.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Truist Financial’s target price would indicate a potential upside of 60.89% from the company’s current price.

HUBS has been the topic of several other research reports. KeyCorp reduced their price objective on shares of HubSpot from $775.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday. Macquarie reduced their price target on HubSpot from $730.00 to $660.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Barclays decreased their price target on HubSpot from $675.00 to $575.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen lowered HubSpot from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Citigroup upped their target price on HubSpot from $650.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $626.50.

HubSpot Stock Up 2.3%

Shares of HUBS traded up $9.05 during midday trading on Friday, hitting $404.00. The company’s stock had a trading volume of 863,760 shares, compared to its average volume of 774,466. HubSpot has a one year low of $375.01 and a one year high of $881.13. The company’s fifty day simple moving average is $476.80 and its two-hundred day simple moving average is $528.82. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of -5,066.30, a price-to-earnings-growth ratio of 16.06 and a beta of 1.60.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Thursday, November 6th. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.58 by $0.08. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.19%. The business had revenue of $809.52 million during the quarter, compared to the consensus estimate of $786.80 million. During the same quarter in the prior year, the firm earned $2.18 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts predict that HubSpot will post 1.01 earnings per share for the current year.

Insider Activity

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the sale, the director owned 522,435 shares in the company, valued at approximately $235,012,160.40. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $307,500.00. Following the completion of the transaction, the chief financial officer owned 38,794 shares in the company, valued at $19,397,000. The trade was a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,098 shares of company stock valued at $24,757,257 over the last ninety days. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in HubSpot by 17.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker’s stock valued at $2,805,070,000 after acquiring an additional 714,980 shares during the period. Jennison Associates LLC grew its holdings in HubSpot by 548.6% during the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker’s stock valued at $442,341,000 after buying an additional 672,158 shares in the last quarter. Norges Bank purchased a new stake in shares of HubSpot in the second quarter worth about $269,941,000. Vanguard Group Inc. grew its stake in HubSpot by 6.4% during the third quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker’s stock valued at $2,683,659,000 after acquiring an additional 345,524 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in HubSpot by 37.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker’s stock worth $530,115,000 after acquiring an additional 251,853 shares during the period. 90.39% of the stock is currently owned by institutional investors.

About HubSpot

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.