HubSpot (NYSE:HUBS) Now Covered by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded HubSpot's stock to a "strong-buy" rating, reflecting increased analyst confidence in the company's performance.
• HubSpot's earnings report showed a 19.4% revenue growth compared to the same quarter last year, indicating strong business performance despite current stock volatility.
• Multiple analysts have recently adjusted their price targets for HubSpot, with a consensus target price of $723.11 and a majority rating the stock as a "Buy."

Research analysts at Wells Fargo & Company assumed coverage on shares of HubSpot (NYSE:HUBS - Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The firm set an "overweight" rating on the software maker's stock.

HUBS has been the subject of several other reports. Truist Financial decreased their price objective on shares of HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus decreased their target price on shares of HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a research note on Monday, July 14th. Canaccord Genuity Group decreased their target price on shares of HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. UBS Group restated an "outperform" rating on shares of HubSpot in a research note on Wednesday, September 3rd. Finally, Piper Sandler started coverage on shares of HubSpot in a research note on Thursday, September 4th. They issued an "overweight" rating and a $675.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, HubSpot has an average rating of "Buy" and a consensus price target of $723.11.

HubSpot Stock Performance

Shares of HUBS stock opened at $439.70 on Tuesday. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of -1,911.75, a price-to-earnings-growth ratio of 16.13 and a beta of 1.59. The company has a 50 day moving average price of $487.54 and a 200 day moving average price of $547.23. HubSpot has a one year low of $418.34 and a one year 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. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. HubSpot's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business earned $1.94 EPS. As a group, equities analysts forecast that HubSpot will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In other news, CTO Dharmesh Shah sold 4,747 shares of HubSpot stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $501.60, for a total value of $2,381,095.20. Following the transaction, the chief technology officer owned 1,271,058 shares of the company's stock, valued at $637,562,692.80. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 477 shares of HubSpot stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $500.00, for a total transaction of $238,500.00. Following the completion of the transaction, the chief executive officer directly owned 62,291 shares in the company, valued at approximately $31,145,500. This represents a 0.76% decrease in their position. 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. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On HubSpot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC increased its holdings in HubSpot by 2.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,784 shares of the software maker's stock valued at $994,000 after buying an additional 51 shares during the period. State of Wyoming boosted its stake in shares of HubSpot by 1,600.0% in the 2nd quarter. State of Wyoming now owns 102 shares of the software maker's stock valued at $57,000 after purchasing an additional 96 shares in the last quarter. Asset Dedication LLC boosted its stake in shares of HubSpot by 27.1% in the 2nd quarter. Asset Dedication LLC now owns 136 shares of the software maker's stock valued at $76,000 after purchasing an additional 29 shares in the last quarter. Liontrust Investment Partners LLP boosted its stake in shares of HubSpot by 32.4% in the 2nd quarter. Liontrust Investment Partners LLP now owns 7,047 shares of the software maker's stock valued at $3,923,000 after purchasing an additional 1,726 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of HubSpot in the 2nd quarter valued at $223,000. 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.