Scotiabank Raises HubSpot (NYSE:HUBS) Price Target to $825.00

HubSpot (NYSE:HUBS) had its target price hoisted by Scotiabank from $700.00 to $825.00 in a report released on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the software maker’s stock.

Several other research firms also recently commented on HUBS. Barclays upped their price target on shares of HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Evercore ISI increased their price objective on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of HubSpot from $750.00 to $810.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of HubSpot from $750.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $714.05.

HubSpot Stock Performance

HUBS stock opened at $708.98 on Wednesday. The company’s 50-day simple moving average is $697.79 and its 200 day simple moving average is $579.99. HubSpot has a 52 week low of $434.84 and a 52 week high of $762.47. The company has a market capitalization of $36.60 billion, a PE ratio of -2,625.75, a price-to-earnings-growth ratio of 87.75 and a beta of 1.70.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 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 1.16%. The business had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same period in the prior year, the company posted ($0.04) earnings per share. HubSpot’s revenue was up 20.1% compared to the same quarter last year. On average, analysts forecast that HubSpot will post 0.4 EPS for the current year.

Insider Buying and Selling at HubSpot

In other news, CEO Yamini Rangan sold 3,057 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the completion of the sale, the chief executive officer now owns 54,079 shares of the company’s stock, valued at $37,941,285.61. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Dawson Alyssa Harvey sold 573 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total transaction of $401,100.00. Following the sale, the insider now directly owns 7,603 shares of the company’s stock, valued at approximately $5,322,100. This trade represents a 7.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,066 shares of company stock valued at $54,900,427. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of HubSpot

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of HubSpot during the 3rd quarter worth approximately $25,000. HM Payson & Co. grew its position in HubSpot by 36.0% in the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after purchasing an additional 18 shares during the period. Crewe Advisors LLC grew its position in HubSpot by 37.3% in the 3rd quarter. Crewe Advisors LLC now owns 103 shares of the software maker’s stock valued at $55,000 after purchasing an additional 28 shares during the period. True Wealth Design LLC acquired a new stake in HubSpot in the 3rd quarter valued at $62,000. Finally, Truvestments Capital LLC acquired a new stake in HubSpot in the 3rd quarter valued at $76,000. Institutional investors and hedge funds 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.