BMO Capital Markets Has Lowered Expectations for HubSpot (NYSE:HUBS) Stock Price

Key Points

• BMO Capital Markets has reduced its price target for HubSpot from $650 to $600, while maintaining an "outperform" rating, indicating a potential upside of 22.24% from the current stock price.
• HubSpot has received varying analyst ratings, with four holding ratings, twenty-six buy ratings, and one strong buy rating; the average price target among analysts is $757.25.
• Despite a recent earnings report beating estimates, HubSpot shares have shown volatility, with a 1-year low of $454.25 and a high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) had its price target cut by research analysts at BMO Capital Markets from $650.00 to $600.00 in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has an "outperform" rating on the software maker's stock. BMO Capital Markets' price objective suggests a potential upside of 22.24% from the stock's current price.

Several other analysts have also weighed in on HUBS. Truist Financial lowered their target price on HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Oppenheimer increased their price objective on HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Cantor Fitzgerald started coverage on HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price objective on the stock. Wells Fargo & Company decreased their price objective on HubSpot from $700.00 to $675.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Finally, Piper Sandler raised HubSpot from a "neutral" rating to an "overweight" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, HubSpot has an average rating of "Moderate Buy" and an average price target of $757.25.

HubSpot Price Performance

Shares of HUBS stock opened at $490.83 on Thursday. The business's fifty day moving average price is $555.48 and its 200 day moving average price is $617.78. HubSpot has a 1-year low of $454.25 and a 1-year high of $881.13. The firm has a market capitalization of $25.89 billion, a PE ratio of -1,090.73, a P/E/G ratio of 17.90 and a beta of 1.66.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. HubSpot had a positive return on equity of 0.14% and a negative net margin of 0.85%. HubSpot's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 earnings per share. Equities research analysts expect that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insider Activity at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total value of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares in the company, valued at $283,718,775.45. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,998 shares of company stock valued at $10,928,616. Company insiders own 4.50% of the company's stock.

Institutional Trading of HubSpot

Several large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its stake in shares of HubSpot by 24.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 13,228 shares of the software maker's stock worth $7,363,000 after acquiring an additional 2,569 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of HubSpot by 251.3% during the 2nd quarter. Fox Run Management L.L.C. now owns 2,508 shares of the software maker's stock worth $1,396,000 after acquiring an additional 1,794 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of HubSpot by 21.0% during the 2nd quarter. Penserra Capital Management LLC now owns 4,830 shares of the software maker's stock worth $2,687,000 after acquiring an additional 837 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of HubSpot by 1,057.1% during the 2nd quarter. Golden State Wealth Management LLC now owns 81 shares of the software maker's stock worth $45,000 after acquiring an additional 74 shares in the last quarter. Finally, Andra AP fonden boosted its stake in shares of HubSpot by 71.6% during the 2nd quarter. Andra AP fonden now owns 32,585 shares of the software maker's stock worth $18,138,000 after acquiring an additional 13,600 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

About HubSpot

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.

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