Royal Bank of Canada Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its price objective lifted by Royal Bank of Canada from $750.00 to $825.00 in a research report report published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the software maker’s stock.

Several other analysts have also weighed in on HUBS. The Goldman Sachs Group lifted their price objective on shares of HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Oppenheimer increased their price target on HubSpot from $625.00 to $740.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $730.00 target price on shares of HubSpot in a report on Thursday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $750.00 price objective (up from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Finally, Piper Sandler lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $570.00 to $640.00 in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, HubSpot has a consensus rating of “Moderate Buy” and a consensus price target of $705.64.

HubSpot Trading Up 0.8 %

Shares of HUBS stock opened at $702.85 on Friday. The stock has a 50-day moving average of $689.11 and a 200-day moving average of $577.06. HubSpot has a 1-year low of $434.84 and a 1-year high of $762.47. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of -2,603.05, a PEG ratio of 87.75 and a beta of 1.70.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. During the same period last year, the business posted ($0.04) EPS. The business’s revenue was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that HubSpot will post 0.4 earnings per share for the current year.

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 115 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total value of $82,085.85. Following the completion of the transaction, the chief executive officer now owns 61,179 shares of the company’s stock, valued at $43,668,958.41. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lorrie M. Norrington sold 572 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $721.60, for a total transaction of $412,755.20. Following the sale, the director now owns 1,125 shares in the company, valued at approximately $811,800. This trade represents a 33.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,391 shares of company stock worth $53,243,511. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GDS Wealth Management purchased a new position in shares of HubSpot in the 3rd quarter worth about $2,149,000. Pallas Capital Advisors LLC purchased a new stake in shares of HubSpot in the 3rd quarter valued at $624,000. Icon Wealth Advisors LLC lifted its stake in HubSpot by 3,346.2% in the third quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker’s stock worth $11,212,000 after purchasing an additional 20,479 shares during the last quarter. Headlands Technologies LLC purchased a new stake in HubSpot during the second quarter valued at about $3,135,000. Finally, Curi RMB Capital LLC increased its holdings in shares of HubSpot by 15.1% in the third quarter. Curi RMB Capital LLC now owns 7,143 shares of the software maker’s stock worth $3,797,000 after buying an additional 937 shares during the period. 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.