HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Tuesday. The firm set a “hold” rating on the stock.

A number of other brokerages have also weighed in on HCP. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

HCP opened at $33.82 on Tuesday. The business has a fifty day moving average price of $33.74 and a 200 day moving average price of $31.79. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -35.23 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) earnings per share. On average, research analysts anticipate that HashiCorp will post -0.59 earnings per share for the current year.

Insider Transactions at HashiCorp

In other news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total value of $465,629.36. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $146,153.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total transaction of $465,629.36. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $146,153.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the transaction, the chief financial officer now directly owns 91,485 shares in the company, valued at $3,064,747.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,355 shares of company stock worth $11,957,418. Insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HCP. Charles Schwab Investment Management Inc. lifted its position in shares of HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after acquiring an additional 63,879 shares during the period. Swiss National Bank boosted its position in HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after purchasing an additional 23,400 shares in the last quarter. Contour Asset Management LLC acquired a new stake in HashiCorp in the fourth quarter valued at $21,217,000. GGV Capital LLC increased its position in shares of HashiCorp by 4.6% in the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock valued at $15,579,000 after buying an additional 29,064 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of HashiCorp during the 1st quarter worth $1,070,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.