HashiCorp (NASDAQ:HCP) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of HashiCorp (NASDAQ:HCPFree Report) in a research report sent to investors on Thursday morning, Benzinga reports. JMP Securities currently has a $38.00 target price on the stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC raised their target price on HashiCorp from $27.00 to $30.00 and gave the stock a buy rating in a research note on Monday. Stifel Nicolaus raised their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday. Truist Financial cut their price objective on HashiCorp from $34.00 to $27.00 and set a buy rating for the company in a research report on Friday, December 8th. StockNews.com downgraded HashiCorp from a hold rating to a sell rating in a research report on Thursday. Finally, BTIG Research lifted their target price on HashiCorp from $25.00 to $27.00 and gave the company a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $28.58.

Get Our Latest Stock Report on HCP

HashiCorp Trading Down 0.9 %

Shares of NASDAQ:HCP opened at $26.32 on Thursday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $36.39. The business’s 50 day moving average price is $23.33 and its 200-day moving average price is $23.14.

HashiCorp (NASDAQ:HCPGet Free Report) last announced its quarterly earnings data on Thursday, December 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.07. The company had revenue of $146.10 million for the quarter, compared to analyst estimates of $143.21 million. HashiCorp had a negative return on equity of 15.66% and a negative net margin of 32.70%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) EPS. Research analysts predict that HashiCorp will post -0.74 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Mcjannet sold 107,481 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $22.81, for a total transaction of $2,451,641.61. Following the transaction, the chief executive officer now owns 286,975 shares of the company’s stock, valued at $6,545,899.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HashiCorp news, CEO David Mcjannet sold 107,481 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $22.81, for a total value of $2,451,641.61. Following the sale, the chief executive officer now owns 286,975 shares of the company’s stock, valued at $6,545,899.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ledger Susan St. sold 21,566 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $22.83, for a total value of $492,351.78. Following the completion of the sale, the insider now directly owns 95,860 shares in the company, valued at approximately $2,188,483.80. The disclosure for this sale can be found here. Insiders have sold 471,038 shares of company stock valued at $10,708,172 over the last quarter. Company insiders own 26.13% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new stake in shares of HashiCorp in the first quarter valued at about $33,000. Citigroup Inc. grew its stake in HashiCorp by 167.6% during the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares in the last quarter. American International Group Inc. acquired a new stake in HashiCorp during the 2nd quarter valued at approximately $38,000. Dark Forest Capital Management LP acquired a new stake in HashiCorp during the 1st quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC grew its stake in HashiCorp by 82.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares in the last quarter. 45.93% of the stock is currently owned by hedge funds and other institutional investors.

About HashiCorp

(Get Free Report)

HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.

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Analyst Recommendations for HashiCorp (NASDAQ:HCP)

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