Wells Fargo & Company Forecasts Strong Price Appreciation for HubSpot (NYSE:HUBS) Stock

HubSpot (NYSE:HUBS) had its price objective upped by Wells Fargo & Company from $750.00 to $810.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $570.00 to $640.00 in a report on Thursday, November 7th. UBS Group upgraded HubSpot from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Bank of America upped their price objective on HubSpot from $780.00 to $850.00 and gave the stock a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group upped their target price on HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $714.05.

HubSpot Stock Performance

HubSpot stock opened at $708.98 on Tuesday. HubSpot has a fifty-two week low of $434.84 and a fifty-two week high of $762.47. The stock has a market cap of $36.60 billion, a P/E ratio of -2,625.75, a PEG ratio of 87.75 and a beta of 1.70. The firm’s fifty day moving average price is $700.87 and its 200-day moving average price is $580.89.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $646.97 million. During the same quarter last year, the firm posted ($0.04) EPS. The company’s revenue was up 20.1% compared to the same quarter last year. Sell-side analysts predict that HubSpot will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total value of $5,623,515.00. Following the completion of the transaction, the insider now owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. This represents a 1.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Dharmesh Shah sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $739.89, for a total value of $18,497,250.00. Following the transaction, the chief technology officer now directly owns 1,272,077 shares of the company’s stock, valued at $941,197,051.53. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,066 shares of company stock valued at $54,900,427 over the last quarter. 4.50% of the stock is owned by company insiders.

Institutional Trading of HubSpot

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in HubSpot during the third quarter valued at $25,000. HM Payson & Co. increased its holdings in shares of HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after acquiring an additional 18 shares in the last quarter. Crewe Advisors LLC raised its position in shares of HubSpot by 37.3% in the 3rd quarter. Crewe Advisors LLC now owns 103 shares of the software maker’s stock worth $55,000 after purchasing an additional 28 shares during the last quarter. True Wealth Design LLC bought a new position in HubSpot in the 3rd quarter worth about $62,000. Finally, Asset Dedication LLC purchased a new stake in HubSpot during the 2nd quarter valued at about $70,000. 90.39% of the stock is owned by institutional investors.

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.