Canaccord Genuity Group Has Lowered Expectations for HubSpot (NYSE:HUBS) Stock Price

Key Points

• Canaccord Genuity Group has reduced its target price for HubSpot's stock from $765.00 to $700.00, while maintaining a "buy" rating, indicating a potential upside of 51.45%.
• Multiple research firms have adjusted their target prices for HubSpot, with the consensus price target currently sitting at $729.93.
• HubSpot recently reported strong quarterly earnings, with an EPS of $2.19 and revenue growth of 19.4% year-over-year.

HubSpot (NYSE:HUBS - Get Free Report) had its target price lowered by research analysts at Canaccord Genuity Group from $765.00 to $700.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Canaccord Genuity Group's price objective indicates a potential upside of 51.45% from the stock's previous close.

HUBS has been the subject of a number of other research reports. BNP Paribas started coverage on shares of HubSpot in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 target price for the company. Macquarie dropped their target price on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday. UBS Group dropped their target price on shares of HubSpot from $820.00 to $700.00 and set a "buy" rating for the company in a report on Thursday. Citigroup increased their target price on shares of HubSpot from $750.00 to $759.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Mizuho dropped their target price on shares of HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, HubSpot currently has a consensus rating of "Moderate Buy" and a consensus price target of $729.93.

HubSpot Price Performance

NYSE HUBS traded down $30.44 on Thursday, hitting $462.18. 2,779,649 shares of the stock were exchanged, compared to its average volume of 711,359. The business's fifty day moving average is $552.97 and its 200 day moving average is $616.91. HubSpot has a 52 week low of $444.25 and a 52 week high of $881.13. The company has a market capitalization of $24.38 billion, a PE ratio of -1,027.08, a P/E/G ratio of 17.90 and a beta of 1.66.

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

Insider Activity at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total value of $4,616,095.00. Following the transaction, the director owned 522,435 shares of the company's stock, valued at $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the firm'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 $339,350.85. Following the completion of the transaction, the chief financial officer directly owned 41,086 shares in the company, valued at $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,998 shares of company stock worth $10,928,616. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On HubSpot

Several institutional investors have recently added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in shares of HubSpot during the 4th quarter worth approximately $27,000. Whittier Trust Co. lifted its position in shares of HubSpot by 136.4% during the second quarter. Whittier Trust Co. now owns 52 shares of the software maker's stock valued at $29,000 after buying an additional 30 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after buying an additional 22 shares in the last quarter. Hilltop National Bank bought a new stake in shares of HubSpot in the 2nd quarter valued at about $32,000. Finally, Aster Capital Management DIFC Ltd grew its stake in HubSpot by 213.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after buying an additional 32 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.