HubSpot (NYSE:HUBS) Price Target Cut to $660.00 by Analysts at Macquarie

Key Points

• Analysts at Macquarie have cut HubSpot's price target from $730.00 to $660.00, indicating a potential upside of 42.80% from its current price.
• HubSpot's stock saw a significant drop, trading down $30.44 to $462.18 during mid-day trading, reflecting ongoing market volatility.
• Despite recent target reductions, HubSpot still maintains a consensus rating of "Moderate Buy" from analysts with a target price of $738.86.

HubSpot (NYSE:HUBS - Get Free Report) had its target price cut by research analysts at Macquarie from $730.00 to $660.00 in a report released on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the software maker's stock. Macquarie's target price would indicate a potential upside of 42.80% from the company's current price.

HUBS has been the subject of a number of other research reports. Scotiabank lowered their price target on shares of HubSpot from $900.00 to $750.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Cantor Fitzgerald initiated coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday. Wells Fargo & Company increased their price objective on shares of HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Raymond James Financial cut their price objective on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, HubSpot presently has a consensus rating of "Moderate Buy" and a consensus target price of $738.86.

HubSpot Stock Performance

Shares of HubSpot stock traded down $30.44 during mid-day trading on Thursday, hitting $462.18. 2,359,314 shares of the stock were exchanged, compared to its average volume of 707,456. HubSpot has a 12 month low of $444.25 and a 12 month high of $881.13. The company has a 50-day simple moving average of $552.97 and a 200 day simple moving average of $616.91. The company has a market capitalization of $24.38 billion, a P/E 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 analysts' consensus estimates 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 analyst estimates of $739.94 million. During the same period in the previous year, the business earned $1.94 EPS. The business's revenue for the quarter was up 19.4% on a year-over-year basis. Analysts predict that HubSpot will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the completion of the transaction, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. The trade was a 3.59% 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 transaction 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 represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,998 shares of company stock valued at $10,928,616 over the last three months. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On HubSpot

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted 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 purchasing an additional 201,994 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of HubSpot by 17.0% during the 1st 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 acquiring an additional 714,980 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of HubSpot by 37.3% during the 1st 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. Jennison Associates LLC raised its holdings in shares of HubSpot by 548.6% during the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker's stock worth $442,341,000 after acquiring an additional 672,158 shares during the period. Finally, Groupama Asset Managment increased its position in shares of HubSpot by 0.8% during the 1st quarter. Groupama Asset Managment now owns 732,578 shares of the software maker's stock worth $418,514,000 after purchasing an additional 5,779 shares during the last quarter. Institutional investors and hedge funds 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.

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