HubSpot (NYSE:HUBS) Price Target Lowered to $550.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered HubSpot's price target from $600.00 to $550.00, maintaining an "outperform" rating which suggests a potential upside of 15.64% from its current price.
• Multiple analysts have issued revised price objectives for HubSpot, with estimates ranging from $550.00 to $675.00; however, the average price target sits at $717.75.
• Insider trading activities reveal that CEO Yamini Rangan and CTO Dharmesh Shah recently sold shares, with total insider sales amounting to over $24.6 million in the last three months.

HubSpot (NYSE:HUBS - Get Free Report) had its price target lowered by BMO Capital Markets from $600.00 to $550.00 in a report released on Friday. The brokerage currently has an "outperform" rating on the software maker's stock. BMO Capital Markets' target price would indicate a potential upside of 15.64% from the stock's current price.

HUBS has been the topic of several other reports. Raymond James Financial lowered their price objective on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. UBS Group restated an "outperform" rating on shares of HubSpot in a research report on Wednesday, September 3rd. Piper Sandler initiated coverage on HubSpot in a research report on Thursday, September 4th. They issued an "overweight" rating and a $675.00 price objective on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of HubSpot in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group lowered their price objective on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $717.75.

HubSpot Stock Performance

NYSE HUBS opened at $475.63 on Friday. The company has a market capitalization of $25.06 billion, a PE ratio of -2,067.97, a price-to-earnings-growth ratio of 16.19 and a beta of 1.58. The business's fifty day moving average is $475.11 and its 200 day moving average is $533.05. HubSpot has a fifty-two week low of $418.34 and a fifty-two week high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last released its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The company had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. During the same period in the previous year, the business earned $1.94 earnings per share. HubSpot's quarterly revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts forecast that HubSpot will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 2,387 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $500.00, for a total transaction of $1,193,500.00. Following the completion of the transaction, the chief executive officer owned 56,277 shares in the company, valued at $28,138,500. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Dharmesh Shah sold 17,253 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $500.66, for a total value of $8,637,886.98. Following the transaction, the chief technology officer owned 1,275,805 shares of the company's stock, valued at $638,744,531.30. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,863 shares of company stock worth $24,641,332 over the last three months. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of HubSpot

Large investors have recently modified their holdings of the company. Goodman Advisory Group LLC purchased a new stake in shares of HubSpot in the second quarter valued at approximately $27,000. Whittier Trust Co. boosted its holdings in shares of HubSpot by 136.4% in the second quarter. Whittier Trust Co. now owns 52 shares of the software maker's stock valued at $29,000 after purchasing an additional 30 shares during the period. Rakuten Securities Inc. lifted its holdings in HubSpot by 783.3% during the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker's stock worth $30,000 after buying an additional 47 shares during the period. Hilltop National Bank purchased a new stake in HubSpot during the second quarter worth $32,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

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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