Bank of America Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its target price increased by Bank of America from $780.00 to $850.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler cut shares of HubSpot from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $570.00 to $640.00 in a research note on Thursday, November 7th. Oppenheimer raised their price objective on shares of HubSpot from $625.00 to $740.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI upped their target price on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on HubSpot from $625.00 to $750.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $702.23.

HubSpot Trading Up 3.5 %

Shares of NYSE HUBS opened at $746.91 on Monday. HubSpot has a 12-month low of $434.84 and a 12-month high of $762.47. The firm has a market capitalization of $38.56 billion, a price-to-earnings ratio of -2,766.33, a price-to-earnings-growth ratio of 88.26 and a beta of 1.70. The firm has a 50 day moving average of $642.28 and a 200 day moving average of $565.10.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping the consensus estimate of $1.91 by $0.27. The firm had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. HubSpot’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. Sell-side analysts predict that HubSpot will post 0.4 EPS for the current year.

Insider Activity

In other news, CTO Dharmesh Shah sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total transaction of $16,815,500.00. Following the transaction, the chief technology officer now owns 1,323,145 shares of the company’s stock, valued at approximately $889,973,789.90. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total value of $5,623,515.00. Following the completion of the sale, the insider now owns 513,698 shares in the company, valued at approximately $339,857,459.82. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,390 shares of company stock valued at $29,126,596 in the last ninety days. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

Institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in HubSpot during the third quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in HubSpot in the second quarter worth $35,000. HM Payson & Co. increased its position in shares of HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after purchasing an additional 18 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of HubSpot by 525.0% during the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after purchasing an additional 63 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in HubSpot by 41.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock valued at $64,000 after buying an additional 32 shares in 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.