Wells Fargo & Company Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its price target increased by Wells Fargo & Company from $810.00 to $835.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

HUBS has been the subject of a number of other reports. Stifel Nicolaus boosted their target price on shares of HubSpot from $750.00 to $880.00 and gave the company a “buy” rating in a research report on Monday, December 9th. UBS Group cut HubSpot from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. raised their target price on HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $732.88.

HubSpot Stock Performance

HubSpot stock opened at $765.26 on Tuesday. HubSpot has a fifty-two week low of $434.84 and a fifty-two week high of $811.79. The company has a market cap of $39.50 billion, a PE ratio of -2,834.19, a PEG ratio of 44.02 and a beta of 1.72. The business’s 50-day simple moving average is $725.07 and its two-hundred day simple moving average is $604.09.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The company had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same quarter in the prior year, the company earned ($0.04) EPS. HubSpot’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, analysts predict that HubSpot will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $739.89, for a total value of $18,497,250.00. Following the transaction, the chief technology officer now owns 1,272,077 shares of the company’s stock, valued at $941,197,051.53. This represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the sale, the insider now owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,066 shares of company stock valued at $54,900,427 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in HubSpot by 52.2% in the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after purchasing an additional 480,796 shares during the period. Geode Capital Management LLC grew its stake in shares of HubSpot by 2.5% in the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after buying an additional 19,974 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of HubSpot by 3.8% in the 4th quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock valued at $469,987,000 after buying an additional 24,799 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in HubSpot by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after acquiring an additional 86,688 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock valued at $280,186,000 after acquiring an additional 40,138 shares during the period. Hedge funds and other 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.