HubSpot (NYSE:HUBS) Price Target Raised to $750.00

HubSpot (NYSE:HUBS) had its price objective hoisted by Royal Bank of Canada from $700.00 to $750.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Piper Sandler lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $570.00 to $640.00 in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and set a $625.00 price objective on shares of HubSpot in a research report on Thursday, September 19th. Truist Financial restated a “buy” rating and set a $600.00 price target (down from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. BMO Capital Markets increased their price objective on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 target price on shares of HubSpot in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $666.26.

HubSpot Stock Performance

Shares of NYSE:HUBS traded up $11.95 during midday trading on Thursday, reaching $656.56. 947,094 shares of the company’s stock traded hands, compared to its average volume of 380,530. HubSpot has a one year low of $413.07 and a one year high of $693.85. The company has a market cap of $33.89 billion, a price-to-earnings ratio of -2,431.70, a P/E/G ratio of 7,948.12 and a beta of 1.63. The stock has a 50 day moving average of $535.45 and a 200 day moving average of $546.83.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, beating 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 1.22%. The business had revenue of $669.72 million for the quarter, compared to analysts’ expectations of $646.97 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year.

Insiders Place Their Bets

In other news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value of $597,354.24. Following the sale, the chief financial officer now directly owns 41,259 shares of the company’s stock, valued at approximately $21,695,632.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction on 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 transaction, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kathryn Bueker sold 1,136 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $597,354.24. Following the sale, the chief financial officer now owns 41,259 shares in the company, valued at $21,695,632.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,937 shares of company stock worth $3,194,673 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its stake 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 valued at $31,000 after purchasing an additional 45 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in HubSpot during the 2nd quarter valued at $35,000. HM Payson & Co. lifted its position in HubSpot by 36.0% in the third 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 last quarter. Crewe Advisors LLC boosted its stake in HubSpot by 525.0% during the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock worth $44,000 after buying an additional 63 shares during the period. Finally, J.Safra Asset Management Corp increased its position in HubSpot by 690.9% during the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock valued at $51,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.