Canaccord Genuity Group Increases HubSpot (NYSE:HUBS) Price Target to $710.00

HubSpot (NYSE:HUBS) had its price objective raised by investment analysts at Canaccord Genuity Group from $600.00 to $710.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price points to a potential upside of 7.90% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on HUBS. The Goldman Sachs Group increased their price target on HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday. BMO Capital Markets upped their price objective on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler downgraded HubSpot from an “overweight” rating to a “neutral” rating and increased their price target for the company from $570.00 to $640.00 in a research report on Thursday. Royal Bank of Canada raised their target price on HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and a consensus price target of $643.67.

HubSpot Trading Up 10.1 %

Shares of HUBS traded up $60.21 during midday trading on Thursday, reaching $658.00. The stock had a trading volume of 937,332 shares, compared to its average volume of 589,076. The firm has a 50 day simple moving average of $529.41 and a 200-day simple moving average of $545.99. The firm has a market cap of $33.79 billion, a PE ratio of -1,215.96, a P/E/G ratio of 7,506.16 and a beta of 1.63. HubSpot has a one year low of $413.07 and a one year high of $693.85.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The business had revenue of $637.20 million for the quarter, compared to analysts’ expectations of $619.28 million. During the same period last year, the firm posted ($1.17) earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year.

Insider Activity

In related news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 1,804 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $992,200.00. Following the completion of the transaction, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $22,692,450. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,937 shares of company stock valued at $3,194,673 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Several large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its stake in HubSpot by 1,125.0% in the first quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after buying an additional 45 shares in the last quarter. International Assets Investment Management LLC purchased a new position in HubSpot in the second quarter worth $35,000. HM Payson & Co. boosted its holdings 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 acquiring an additional 18 shares in the last quarter. Crewe Advisors LLC grew its stake in shares of 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 acquiring an additional 63 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its position in shares of HubSpot by 690.9% in the 2nd quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock valued at $51,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

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.