Canaccord Genuity Group Forecasts Strong Price Appreciation for HubSpot (NYSE:HUBS) Stock

HubSpot (NYSE:HUBS) had its price objective raised by research analysts at Canaccord Genuity Group from $600.00 to $710.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 8.14% from the company’s current price.

HUBS has been the topic of a number of other reports. KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus increased their target price on HubSpot from $600.00 to $625.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Bank of America decreased their price target on HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, BMO Capital Markets lifted their price objective on shares of HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $660.96.

HubSpot Price Performance

HUBS stock opened at $656.56 on Thursday. The company’s 50 day simple moving average is $535.45 and its 200-day simple moving average is $546.83. HubSpot has a 12 month low of $413.07 and a 12 month high of $693.85. The firm has a market capitalization of $33.71 billion, a PE ratio of -2,432.06, a P/E/G ratio of 7,948.12 and a beta of 1.63.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $637.20 million during the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.22%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.17) earnings per share.

Insider Transactions at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kathryn Bueker sold 1,804 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $992,200.00. Following the completion of the sale, the chief financial officer now owns 41,259 shares in the company, valued at $22,692,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,937 shares of company stock worth $3,194,673. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

Several large investors have recently made changes to their positions in HUBS. Geneos Wealth Management Inc. grew its holdings in shares of HubSpot by 1,125.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after acquiring an additional 45 shares during the last quarter. International Assets Investment Management LLC purchased a new position in HubSpot in the 2nd quarter worth about $35,000. HM Payson & Co. raised its holdings in HubSpot by 36.0% during the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after buying an additional 18 shares during the period. Crewe Advisors LLC lifted its stake in HubSpot by 525.0% during the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after buying an additional 63 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in shares of HubSpot by 690.9% in the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after buying an additional 76 shares during the period. Institutional investors own 90.39% of the company’s stock.

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.