Canaccord Genuity Group Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its price objective lifted by analysts at Canaccord Genuity Group from $710.00 to $900.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 14.67% from the company’s current price.

Several other brokerages have also recently issued reports on HUBS. Piper Sandler cut HubSpot from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $570.00 to $640.00 in a research note on Thursday, November 7th. Mizuho increased their target price on shares of HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. UBS Group lowered shares of HubSpot from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of HubSpot from $810.00 to $835.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Oppenheimer raised their target price on shares of HubSpot from $625.00 to $740.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $781.38.

HubSpot Stock Performance

HUBS opened at $784.84 on Thursday. The company has a market capitalization of $40.51 billion, a P/E ratio of -2,906.71, a PEG ratio of 43.94 and a beta of 1.72. The company has a 50-day moving average of $732.48 and a 200-day moving average of $617.71. HubSpot has a 1-year low of $434.84 and a 1-year high of $811.79.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. As a group, sell-side analysts expect that HubSpot will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Dharmesh Shah sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total transaction of $16,815,500.00. Following the completion of the transaction, the chief technology officer now owns 1,323,145 shares of the company’s stock, valued at $889,973,789.90. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the completion of the sale, the insider now owns 513,698 shares in the company, valued at approximately $339,857,459.82. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,112 shares of company stock valued at $51,432,627 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

A number of large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of HubSpot by 5.4% in the fourth quarter. Farther Finance Advisors LLC now owns 255 shares of the software maker’s stock valued at $178,000 after buying an additional 13 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of HubSpot by 3.4% in the 4th quarter. Wedbush Securities Inc. now owns 393 shares of the software maker’s stock worth $274,000 after acquiring an additional 13 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of HubSpot by 2.4% in the 4th quarter. First Horizon Advisors Inc. now owns 638 shares of the software maker’s stock worth $445,000 after acquiring an additional 15 shares during the last quarter. Amalgamated Bank raised its position in shares of HubSpot by 0.5% during the fourth quarter. Amalgamated Bank now owns 3,259 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 16 shares during the period. Finally, Avitas Wealth Management LLC lifted its holdings in shares of HubSpot by 0.8% during the fourth quarter. Avitas Wealth Management LLC now owns 2,038 shares of the software maker’s stock valued at $1,420,000 after purchasing an additional 17 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.