JPMorgan Chase & Co. Issues Pessimistic Forecast for HubSpot (NYSE:HUBS) Stock Price

Key Points

• JPMorgan Chase & Co. has lowered its price target for HubSpot stock from $775.00 to $675.00 while maintaining an "overweight" rating.
• Multiple analysts have varied price targets for HubSpot, with Wells Fargo raising theirs from $675.00 to $680.00 and Citigroup increasing theirs from $750.00 to $759.00, demonstrating a mix of confidence in the stock.
• HubSpot's stock has shown significant volatility, trading as low as $444.25 and as high as $881.13 over the past fifty-two weeks, reflecting concerns about its financial performance despite a recent quarterly revenue increase of 19.4% year-over-year.

HubSpot (NYSE:HUBS - Get Free Report) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $775.00 to $675.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the software maker's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 46.05% from the company's previous close.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company increased their target price on HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a research note on Thursday. Citigroup lifted their price objective on shares of HubSpot from $750.00 to $759.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Raymond James Financial decreased their target price on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research note on Thursday. Barclays lowered their price target on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Finally, Macquarie cut their price objective on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday. Four investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $737.07.

HubSpot Price Performance

HUBS stock traded down $30.44 during midday trading on Thursday, reaching $462.18. 2,779,649 shares of the company's stock traded hands, compared to its average volume of 711,359. HubSpot has a fifty-two week low of $444.25 and a fifty-two week high of $881.13. The business has a 50-day moving average price of $552.97 and a two-hundred day moving average price of $616.91. The company has a market capitalization of $24.38 billion, a P/E ratio of -1,027.08, a PEG ratio of 17.90 and a beta of 1.66.

HubSpot (NYSE:HUBS - Get Free Report) last posted 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 negative net margin of 0.85% and a positive return on equity of 0.14%. The business had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. During the same quarter in the previous year, the business posted $1.94 EPS. The business's quarterly revenue was up 19.4% on a year-over-year basis. As a group, research analysts forecast that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the transaction, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 522,435 shares in the company, valued at $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,998 shares of company stock worth $10,928,616 over the last three months. 4.50% of the stock is currently owned by insiders.

Institutional Trading of HubSpot

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 714,980 shares during the period. Jennison Associates LLC lifted its holdings in shares of HubSpot by 548.6% during the second 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 last quarter. Massachusetts Financial Services Co. MA grew its stake 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. Vanguard Group Inc. increased its holdings in shares of HubSpot by 4.0% during the first quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock valued at $2,997,407,000 after acquiring an additional 201,994 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in HubSpot by 80,552.5% in the first quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock worth $1,018,280,000 after buying an additional 178,021 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.

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