HubSpot (NYSE:HUBS) Receives Overweight Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has reissued an "overweight" rating for HubSpot (NYSE:HUBS), setting a target price of $775.00, which indicates a potential upside of 73.91% from the stock's previous close.
• HubSpot reported quarterly earnings of $2.19 per share, surpassing analysts' estimates, with revenue of $760.87 million, reflecting a year-over-year increase of 19.4%.
• Investors show confidence as 90.39% of HubSpot's stock is held by institutional investors and hedge funds, indicating strong institutional backing.

HubSpot (NYSE:HUBS - Get Free Report)'s stock had its "overweight" rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They currently have a $775.00 target price on the software maker's stock. Cantor Fitzgerald's price objective indicates a potential upside of 73.91% from the stock's previous close.

Several other equities research analysts also recently commented on the company. Truist Financial lowered their price target on shares of HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Canaccord Genuity Group dropped their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. BMO Capital Markets lowered their target price on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, Stifel Nicolaus dropped their target price on shares of HubSpot from $750.00 to $700.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $723.11.

HubSpot Price Performance

Shares of NYSE HUBS opened at $445.64 on Friday. The company has a 50-day simple moving average of $485.39 and a 200-day simple moving average of $546.08. The company has a market cap of $23.48 billion, a PE ratio of -1,937.58, a price-to-earnings-growth ratio of 15.18 and a beta of 1.58. HubSpot has a 12 month low of $418.34 and a 12 month high of $881.13.

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

Insider Activity

In other news, CEO Yamini Rangan sold 477 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $500.00, for a total value of $238,500.00. Following the transaction, the chief executive officer owned 62,291 shares in the company, valued at $31,145,500. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Dharmesh Shah sold 17,253 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the completion of the sale, the chief technology officer directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,096 shares of company stock valued at $24,062,137. Corporate insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HUBS. Vanguard Group Inc. raised its holdings in shares of HubSpot by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,391,241 shares of the software maker's stock valued at $3,000,926,000 after purchasing an additional 144,507 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 buying an additional 714,980 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock valued at $530,115,000 after buying an additional 251,853 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of HubSpot by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 925,938 shares of the software maker's stock worth $513,886,000 after purchasing an additional 38,096 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in HubSpot by 548.6% during the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker's stock valued at $442,341,000 after purchasing an additional 672,158 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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