Citigroup Cuts HubSpot (NYSE:HUBS) Price Target to $650.00

Key Points

• Citigroup has lowered the price target for HubSpot (NYSE:HUBS) from $700.00 to $650.00, maintaining a "buy" rating on the stock, which indicates a potential upside of 44.73% from its previous close.
• Other analysts have also revised their price targets, with Truist Financial lowering theirs to $675.00 and Wells Fargo raising theirs to $680.00, showcasing mixed sentiment among equity research firms.
• HubSpot's recent earnings beat consensus estimates, reporting $2.19 earnings per share and $760.87 million in revenue, up 19.4% year-over-year.

HubSpot (NYSE:HUBS - Get Free Report) had its price objective cut by research analysts at Citigroup from $700.00 to $650.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Citigroup's price target indicates a potential upside of 44.73% from the stock's previous close.

Several other equities research analysts also recently issued reports on HUBS. Truist Financial reduced their price objective on HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research note on Thursday. Wells Fargo & Company increased their price objective on HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research note on Thursday. Scotiabank reduced their price objective on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Mizuho reduced their price objective on HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Oppenheimer increased their price objective on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $726.04.

HubSpot Trading Down 2.8%

HUBS stock traded down $12.77 during trading hours on Friday, hitting $449.10. 1,284,983 shares of the stock traded hands, compared to its average volume of 715,201. The stock has a 50-day simple moving average of $552.97 and a 200 day simple moving average of $616.91. HubSpot has a one year low of $444.25 and a one year high of $881.13. The company has a market cap of $23.69 billion, a P/E ratio of -1,952.61, a P/E/G ratio of 17.92 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.07. HubSpot had a positive return on equity of 1.78% and a negative net margin of 0.42%. The business had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. During the same quarter last year, the company posted $1.94 EPS. HubSpot's revenue for the quarter was up 19.4% on a year-over-year basis. Analysts forecast that HubSpot will post 1.01 earnings per share for the current year.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of the firm's stock in a transaction that occurred on 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 directly owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,998 shares of company stock valued at $10,928,616. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HUBS. Price T Rowe Associates Inc. MD raised its stake in shares of HubSpot by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker's stock valued at $2,805,070,000 after acquiring an additional 714,980 shares in the last quarter. Jennison Associates LLC grew its holdings in HubSpot by 548.6% in the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker's stock valued at $442,341,000 after buying an additional 672,158 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock valued at $530,115,000 after buying an additional 251,853 shares during the last quarter. Vanguard Group Inc. grew its holdings in HubSpot by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock valued at $2,997,407,000 after buying an additional 201,994 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in HubSpot by 80,552.5% in the 1st quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock valued at $1,018,280,000 after buying an additional 178,021 shares during the last quarter. 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.

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