HubSpot (NYSE:HUBS) Price Target Raised to $680.00

Key Points

• Analysts at Wells Fargo & Company have raised HubSpot's price target from $675.00 to $680.00, indicating a potential upside of 50.18% from its current price.
• HubSpot recently reported a quarterly revenue of $760.87 million, exceeding analysts' expectations and representing a 19.4% increase year-over-year.
• The stock has received numerous ratings, with 26 analysts giving it a buy rating and an average consensus target price of $745.64.

HubSpot (NYSE:HUBS - Get Free Report) had its price target increased by analysts at Wells Fargo & Company from $675.00 to $680.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the software maker's stock. Wells Fargo & Company's target price would suggest a potential upside of 50.18% from the company's current price.

Other research analysts have also issued reports about the stock. Piper Sandler raised shares of HubSpot from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $645.00 to $675.00 in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $900.00 target price on shares of HubSpot in a research report on Friday, May 9th. UBS Group boosted their price target on shares of HubSpot from $675.00 to $820.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen cut shares of HubSpot from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Cantor Fitzgerald assumed coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, HubSpot presently has an average rating of "Moderate Buy" and a consensus target price of $745.64.

HubSpot Stock Performance

Shares of NYSE HUBS traded down $39.82 during mid-day trading on Thursday, hitting $452.81. The stock had a trading volume of 1,475,032 shares, compared to its average volume of 702,237. The company has a 50 day moving average of $552.97 and a two-hundred day moving average of $616.91. The firm has a market cap of $23.88 billion, a PE ratio of -1,000.84, a PEG ratio of 17.90 and a beta of 1.66. HubSpot has a twelve month low of $450.00 and a twelve month high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last posted its 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 positive return on equity of 0.14% and a negative net margin of 0.85%. The firm had revenue of $760.87 million for the quarter, compared to analysts' expectations of $739.94 million. During the same period last year, the firm earned $1.94 EPS. The company's quarterly revenue was up 19.4% on a year-over-year basis. Equities research analysts predict that HubSpot will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the sale, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the company'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 owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,998 shares of company stock worth $10,928,616. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of HubSpot

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new position in HubSpot in the 4th quarter valued at approximately $27,000. Coppell Advisory Solutions LLC boosted its holdings in shares of HubSpot by 91.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after buying an additional 22 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in HubSpot by 213.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock valued at $33,000 after purchasing an additional 32 shares during the period. Whittier Trust Co. boosted its holdings in HubSpot by 136.4% in the 2nd 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. Finally, Colonial Trust Co SC boosted its holdings in HubSpot by 111.1% in the 4th quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock valued at $40,000 after purchasing an additional 30 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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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