Wells Fargo & Company Cuts HubSpot (NYSE:HUBS) Price Target to $650.00

HubSpot (NYSE:HUBS) had its target price decreased by Wells Fargo & Company from $750.00 to $650.00 in a report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

A number of other brokerages also recently commented on HUBS. Mizuho lowered their price target on shares of HubSpot from $700.00 to $650.00 and set a buy rating for the company in a report on Thursday, May 9th. Citigroup lowered their target price on shares of HubSpot from $798.00 to $767.00 and set a buy rating for the company in a report on Friday, May 10th. BMO Capital Markets lowered their target price on shares of HubSpot from $710.00 to $635.00 and set an outperform rating for the company in a report on Thursday, May 9th. Scotiabank boosted their target price on shares of HubSpot from $650.00 to $700.00 and gave the company a sector outperform rating in a report on Friday, April 5th. Finally, Stifel Nicolaus lowered their target price on shares of HubSpot from $750.00 to $700.00 and set a buy rating for the company in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $633.69.

HubSpot Stock Performance

Shares of HUBS opened at $476.13 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.32. The stock has a market cap of $24.26 billion, a P/E ratio of -179.67 and a beta of 1.60. The company has a 50-day moving average of $587.56 and a two-hundred day moving average of $602.47. HubSpot has a 12-month low of $407.23 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.27. The company had revenue of $617.41 million during the quarter, compared to analysts’ expectations of $597.12 million. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. As a group, research analysts predict that HubSpot will post -0.55 EPS for the current fiscal year.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,877 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $1,705,485.60. Following the sale, the chief executive officer now directly owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HubSpot news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the completion of the sale, the insider now owns 526,041 shares in the company, valued at $334,656,763.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the sale, the chief executive officer now owns 68,037 shares of the company’s stock, valued at approximately $40,332,333.60. The disclosure for this sale can be found here. Insiders have sold 46,491 shares of company stock valued at $28,092,844 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

Institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in HubSpot during the first quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in HubSpot during the fourth quarter valued at $29,000. Geneos Wealth Management Inc. grew its position in shares of HubSpot by 1,125.0% during the first quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after acquiring an additional 45 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of HubSpot by 335.7% during the fourth quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock worth $35,000 after acquiring an additional 47 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of HubSpot by 1,380.0% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock worth $43,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

About HubSpot

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.