Scotiabank Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

by · The Cerbat Gem

HubSpot (NYSE:HUBS – Free Report) had its price objective hoisted by Scotiabank from $700.00 to $825.00 in a report issued on Wednesday,Benzinga reports. They currently have a sector outperform rating on the software maker’s stock.

Several other equities analysts have also recently issued reports on the company. Mizuho raised their price target on HubSpot from $725.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Truist Financial reiterated a “buy” rating and set a $750.00 price target (up previously from $600.00) on shares of HubSpot in a research report on Friday, November 8th. Barclays boosted their price target on shares of HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Canaccord Genuity Group raised their price objective on shares of HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of HubSpot from $750.00 to $810.00 and gave the company an “overweight” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $714.05.

Read Our Latest Stock Report on HUBS

HubSpot Trading Down 0.9 %

Shares of NYSE HUBS opened at $703.23 on Wednesday. HubSpot has a 1-year low of $434.84 and a 1-year high of $762.47. The company has a 50-day moving average of $703.63 and a two-hundred day moving average of $581.79. The company has a market cap of $36.30 billion, a PE ratio of -2,604.46, a P/E/G ratio of 87.75 and a beta of 1.70.

HubSpot (NYSE:HUBS – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The firm had revenue of $669.72 million during the quarter, compared to analysts’ expectations of $646.97 million. During the same quarter in the previous year, the company posted ($0.04) EPS. HubSpot’s revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts forecast that HubSpot will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other HubSpot news, insider Dawson Alyssa Harvey sold 573 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total transaction of $401,100.00. Following the completion of the transaction, the insider now owns 7,603 shares of the company’s stock, valued at $5,322,100. This represents a 7.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yamini Rangan sold 115 shares of HubSpot stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the completion of the sale, the chief executive officer now owns 61,179 shares in the company, valued at $43,668,958.41. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,066 shares of company stock worth $54,900,427. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HubSpot

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in HubSpot by 52.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after purchasing an additional 480,796 shares during the period. Geode Capital Management LLC grew its stake in shares of HubSpot by 2.5% in the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after acquiring an additional 19,974 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of HubSpot by 17.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock valued at $303,689,000 after acquiring an additional 86,688 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in HubSpot by 8.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after acquiring an additional 40,138 shares during the period. Finally, Holocene Advisors LP raised its stake in HubSpot by 17.5% in the 3rd quarter. Holocene Advisors LP now owns 319,767 shares of the software maker’s stock worth $169,988,000 after purchasing an additional 47,736 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Company Profile

(Get Free Report)

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.

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