HubSpot (NYSE:HUBS) Upgraded to "Buy" at Wall Street Zen

Key Points

• HubSpot has been upgraded by Wall Street Zen from a "hold" rating to a "buy" rating, indicating increasing confidence in the company’s stock.
• Despite a consensus rating of "Moderate Buy", several analysts have reduced their price targets for HubSpot, with estimates now ranging from $655 to $795 per share.
• Insider transactions showed significant selling, with Director Brian Halligan and CEO Yamini Rangan reducing their stock holdings by a combined total of nearly $6 million in recent trades.

HubSpot (NYSE:HUBS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other equities research analysts also recently weighed in on HUBS. Cantor Fitzgerald initiated coverage on shares of HubSpot in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price target for the company. BMO Capital Markets reduced their price target on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Truist Financial reduced their price target on shares of HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Canaccord Genuity Group dropped their target price on shares of HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 target price on shares of HubSpot in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $726.04.

HubSpot Stock Up 1.8%

Shares of NYSE HUBS traded up $7.72 on Friday, reaching $431.50. 402,720 shares of the company's stock traded hands, compared to its average volume of 727,218. The business's 50 day simple moving average is $540.90 and its two-hundred day simple moving average is $608.20. HubSpot has a 12 month low of $418.34 and a 12 month high of $881.13. The company has a market cap of $22.74 billion, a price-to-earnings ratio of -1,881.80, a price-to-earnings-growth ratio of 14.23 and a beta of 1.66.

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 the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 earnings per share. Analysts forecast that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, CFO Kathryn Bueker sold 615 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the completion of the sale, the director owned 522,435 shares in the company, valued at approximately $283,718,775.45. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,998 shares of company stock worth $10,928,616 in the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of HubSpot

Several hedge funds have recently bought and sold shares of HUBS. Price T Rowe Associates Inc. MD lifted its stake in HubSpot by 17.0% in 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 purchasing an additional 714,980 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of HubSpot by 548.6% in the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker's stock worth $442,341,000 after buying an additional 672,158 shares during the last quarter. Norges Bank bought a new stake in shares of HubSpot in the 2nd quarter worth about $269,941,000. Massachusetts Financial Services Co. MA increased its holdings in shares of HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after buying an additional 251,853 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of HubSpot by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock worth $2,997,407,000 after buying an additional 201,994 shares during the last quarter. Hedge funds and other institutional investors 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.