Raymond James Financial Has Lowered Expectations for HubSpot (NYSE:HUBS) Stock Price

Key Points

• Raymond James Financial has reduced its price target for HubSpot (NYSE:HUBS) from $825.00 to $655.00 while maintaining an "outperform" rating, indicating a potential upside of 31.58%.
• Other analysts have also lowered their expectations, with Wells Fargo setting a new target of $675.00 and Jefferies Financial cutting its target to $700.00.
• HubSpot's stock currently holds a consensus rating of "Moderate Buy" with an average price target of $752.25, despite recent declines in price estimates.

HubSpot (NYSE:HUBS - Get Free Report) had its target price decreased by investment analysts at Raymond James Financial from $825.00 to $655.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the software maker's stock. Raymond James Financial's price objective suggests a potential upside of 31.58% from the stock's current price.

Several other analysts have also issued reports on the stock. Wells Fargo & Company dropped their price target on shares of HubSpot from $700.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Jefferies Financial Group lowered their price target on HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen cut HubSpot from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Mizuho lowered their price target on shares of HubSpot from $900.00 to $700.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Scotiabank lowered their price objective on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, HubSpot has a consensus rating of "Moderate Buy" and an average price target of $752.25.

HubSpot Price Performance

HUBS stock opened at $497.79 on Thursday. The company has a 50 day moving average price of $555.48 and a 200 day moving average price of $617.78. The stock has a market capitalization of $26.25 billion, a PE ratio of -1,114.85, a price-to-earnings-growth ratio of 17.90 and a beta of 1.66. HubSpot has a fifty-two week low of $460.55 and a fifty-two week 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 (EPS) for the quarter, topping 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 positive return on equity of 0.14% and a negative net margin of 0.85%. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share. As a group, equities analysts expect that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the completion of the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. This trade represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares of the company's stock, valued at $35,269,313.22. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,998 shares of company stock valued at $10,928,616. Insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On HubSpot

Several hedge funds and other institutional investors have recently modified their holdings of HUBS. Price T Rowe Associates Inc. MD lifted its stake in HubSpot by 17.0% during 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 purchasing an additional 714,980 shares during the last quarter. Jennison Associates LLC boosted its stake in HubSpot by 548.6% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of HubSpot by 37.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after acquiring an additional 251,853 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of HubSpot by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock valued at $2,997,407,000 after purchasing an additional 201,994 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake 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 purchasing an additional 178,021 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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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