BMO Capital Markets Reiterates “Outperform” Rating for HubSpot (NYSE:HUBS)

HubSpot (NYSE:HUBS)‘s stock had its “outperform” rating reaffirmed by BMO Capital Markets in a report released on Thursday, Benzinga reports. They presently have a $570.00 target price on the software maker’s stock. BMO Capital Markets’ price target indicates a potential upside of 8.18% from the company’s previous close.

HUBS has been the topic of several other reports. Stifel Nicolaus cut their price target on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Bank of America dropped their target price on HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Oppenheimer decreased their price target on HubSpot from $725.00 to $625.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Raymond James dropped their price objective on HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial reissued a “buy” rating and issued a $600.00 target price (down from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.79.

HubSpot Stock Performance

NYSE:HUBS opened at $526.88 on Thursday. The stock has a 50-day simple moving average of $489.80 and a 200 day simple moving average of $566.48. HubSpot has a 52-week low of $407.23 and a 52-week high of $693.85. The company has a market cap of $26.85 billion, a PE ratio of -198.82, a PEG ratio of 3,140.82 and a beta of 1.63.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The firm had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. During the same quarter in the prior year, the firm posted ($1.17) EPS. The business’s revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that HubSpot will post 0.01 earnings per share for the current fiscal year.

Insider Activity at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the transaction, the chief executive officer now owns 68,037 shares in the company, valued at approximately $40,332,333.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 68,037 shares of the company’s stock, valued at approximately $40,332,333.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathryn Bueker sold 1,135 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $672,828.00. Following the transaction, the chief financial officer now directly owns 44,715 shares in the company, valued at $26,507,052. The disclosure for this sale can be found here. Insiders sold 38,012 shares of company stock worth $21,300,253 in the last ninety days. 4.50% of the stock is owned by company insiders.

Institutional Trading of HubSpot

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of HubSpot by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock worth $3,025,964,000 after purchasing an additional 39,098 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of HubSpot by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock worth $1,211,535,000 after acquiring an additional 176,336 shares in the last quarter. Wellington Management Group LLP increased its stake in HubSpot by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock valued at $1,088,119,000 after acquiring an additional 626,977 shares during the last quarter. Jennison Associates LLC raised its position in HubSpot by 62.1% during the first quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock valued at $988,406,000 after purchasing an additional 604,554 shares in the last quarter. Finally, Twin Focus Capital Partners LLC lifted its stake in HubSpot by 92,828.2% during the fourth quarter. Twin Focus Capital Partners LLC now owns 487,873 shares of the software maker’s stock worth $283,230,000 after purchasing an additional 487,348 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.