Oppenheimer Cuts HubSpot (NYSE:HUBS) Price Target to $350.00

HubSpot (NYSE:HUBS) had its target price reduced by Oppenheimer from $550.00 to $350.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

A number of other research analysts also recently commented on the company. Mizuho reduced their target price on HubSpot from $700.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Piper Sandler dropped their price target on shares of HubSpot from $590.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday. Zacks Research lowered HubSpot from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. BTIG Research started coverage on shares of HubSpot in a research note on Monday, January 5th. They set a “buy” rating and a $500.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on HubSpot from $612.00 to $517.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $578.13.

HubSpot Price Performance

NYSE:HUBS opened at $232.36 on Wednesday. The business’s 50-day moving average is $352.50 and its two-hundred day moving average is $423.88. HubSpot has a 12 month low of $223.01 and a 12 month high of $881.13. The firm has a market capitalization of $12.17 billion, a PE ratio of -2,904.50, a price-to-earnings-growth ratio of 5.31 and a beta of 1.44.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Thursday, November 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.08. The company had revenue of $809.52 million during the quarter, compared to the consensus estimate of $786.80 million. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. HubSpot’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the company earned $2.18 earnings per share. Equities analysts anticipate that HubSpot will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the transaction, the director owned 487,344 shares in the company, valued at $147,850,422.72. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Erika Ashley Fisher sold 841 shares of HubSpot stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total transaction of $200,166.41. Following the completion of the transaction, the insider directly owned 10,119 shares in the company, valued at approximately $2,408,423.19. This represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 26,930 shares of company stock valued at $9,175,604 over the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HubSpot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC boosted its stake 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 purchasing an additional 672,158 shares during the period. Norges Bank bought a new position in HubSpot in the 2nd quarter worth approximately $269,941,000. Pictet Asset Management Holding SA lifted its holdings in shares of HubSpot by 32.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,935,587 shares of the software maker’s stock worth $776,714,000 after buying an additional 476,740 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of HubSpot by 6.4% during the third quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker’s stock worth $2,683,659,000 after buying an additional 345,524 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of HubSpot by 22,795.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 284,816 shares of the software maker’s stock valued at $114,297,000 after acquiring an additional 283,572 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Company Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.