HubSpot (NYSE:HUBS) Given New $675.00 Price Target at Truist Financial

Key Points

• Truist Financial has lowered HubSpot's price target from $720.00 to $675.00, maintaining a "buy" rating and suggesting a potential upside of 47.31% from current levels.
• Several analysts have varying ratings and price targets for HubSpot, with a consensus rating of "Moderate Buy" and an average price target of $745.46.
• HubSpot recently reported a better-than-expected quarterly EPS of $2.19, along with revenue growth of 19.4% year-over-year, reaching $760.87 million.

HubSpot (NYSE:HUBS - Get Free Report) had its price target cut by analysts at Truist Financial from $720.00 to $675.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Truist Financial's price objective indicates a potential upside of 47.31% from the stock's current price.

HUBS has been the subject of several other reports. UBS Group increased their price target on HubSpot from $675.00 to $820.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Jefferies Financial Group dropped their price objective on shares of HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen cut HubSpot from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Raymond James Financial cut their price target on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of HubSpot from $700.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Four equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $745.46.

HubSpot Stock Performance

NYSE:HUBS traded down $34.39 during mid-day trading on Thursday, hitting $458.23. The company had a trading volume of 735,797 shares, compared to its average volume of 696,639. The firm has a market cap of $24.17 billion, a P/E ratio of -1,032.17, a P/E/G ratio of 17.90 and a beta of 1.66. The business's fifty day moving average is $555.48 and its two-hundred day moving average is $617.78. HubSpot has a fifty-two week low of $460.55 and a fifty-two week high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last issued its 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. HubSpot had a negative net margin of 0.85% and a positive return on equity of 0.14%. The firm had revenue of $760.87 million during the quarter, compared to the consensus estimate of $739.94 million. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The business's quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that HubSpot will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 2,383 shares of the company'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 sale, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. This represents a 3.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,998 shares of company stock worth $10,928,616 in the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of HubSpot

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of HubSpot by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker's stock worth $2,805,070,000 after purchasing an additional 714,980 shares in the last quarter. Jennison Associates LLC lifted its position in shares of HubSpot by 548.6% in the second quarter. Jennison Associates LLC now owns 794,677 shares of the software maker's stock valued at $442,341,000 after acquiring an additional 672,158 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of HubSpot by 37.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after acquiring an additional 251,853 shares during the period. Vanguard Group Inc. boosted its stake in shares of HubSpot by 4.0% in the first quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock worth $2,997,407,000 after acquiring an additional 201,994 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of HubSpot by 80,552.5% during the first quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock worth $1,018,280,000 after purchasing an additional 178,021 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

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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