HubSpot (NYSE:HUBS) Given "Buy" Rating at BTIG Research

Key Points

• BTIG Research reiterated a Buy rating on HubSpot with a $300 price target, implying roughly a 30.6% upside from the previous close.
• Several firms recently trimmed targets (Needham, KeyCorp, BMO, Mizuho), yet the analyst tally remains skewed positive (27 Buys, 2 Holds, 1 Sell) with a consensus target of $422.31 and a "Moderate Buy" consensus.
• HubSpot beat the quarter (EPS $3.09 vs. $2.99; revenue $846.75M, +20.4% YoY), but trades at a high P/E (~264) and about $229.70—well below its 52‑week high—and has seen notable insider selling recently.

HubSpot (NYSE:HUBS - Get Free Report)'s stock had its "buy" rating restated by BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $300.00 target price on the software maker's stock. BTIG Research's price objective points to a potential upside of 30.61% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reduced their target price on shares of HubSpot from $700.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. KeyCorp reduced their target price on shares of HubSpot from $400.00 to $340.00 and set an "overweight" rating on the stock in a report on Thursday, February 12th. BMO Capital Markets lowered their price target on shares of HubSpot from $385.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Wall Street Zen lowered shares of HubSpot from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, Mizuho lowered their price target on shares of HubSpot from $550.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Twenty-seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $422.31.

HubSpot Price Performance

HUBS opened at $229.70 on Tuesday. HubSpot has a fifty-two week low of $187.45 and a fifty-two week high of $682.57. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 264.02, a PEG ratio of 3.07 and a beta of 1.44. The company's 50 day moving average price is $244.63 and its two-hundred day moving average price is $334.96.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, February 11th. The software maker reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The firm had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. During the same period in the previous year, the firm posted $2.32 EPS. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that HubSpot will post 3.62 EPS for the current year.

Insider Activity at HubSpot

In other HubSpot news, insider Erika Ashley Fisher sold 841 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total transaction of $200,166.41. Following the completion of the transaction, the insider owned 10,119 shares in the company, valued at approximately $2,408,423.19. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $262.75, for a total transaction of $2,233,375.00. Following the transaction, the director owned 370,558 shares of the company's stock, valued at approximately $97,364,114.50. The trade was a 2.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,191 shares of company stock valued at $4,671,932. Company insiders own 4.00% of the company's stock.

Institutional Trading of HubSpot

Hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. increased its stake in shares of HubSpot by 783.3% in the 2nd quarter. Rakuten Securities Inc. now owns 53 shares of the software maker's stock valued at $30,000 after acquiring an additional 47 shares in the last quarter. Strategic Advocates LLC bought a new stake in shares of HubSpot in the 3rd quarter valued at $25,000. Turning Point Benefit Group Inc. bought a new stake in shares of HubSpot in the 3rd quarter valued at $25,000. Osterweis Capital Management Inc. bought a new stake in shares of HubSpot in the 2nd quarter valued at $34,000. Finally, Exane Asset Management bought a new stake in shares of HubSpot in the 3rd quarter valued at $30,000. Institutional investors own 90.39% of the company's stock.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company's product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.

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