HashiCorp, Inc. (NASDAQ:HCP) Receives $32.08 Consensus PT from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.08.

Several analysts have issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Finally, StockNews.com initiated coverage on HashiCorp in a report on Thursday. They issued a “hold” rating on the stock.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.67 on Friday. The business’s fifty day moving average is $33.85 and its 200 day moving average is $32.86. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -35.07 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the prior year, the business posted ($0.34) earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Equities analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Activity at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $33.71, for a total value of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,239,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,125 shares of company stock valued at $13,022,483. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after acquiring an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC grew its position in HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. grew its position in HashiCorp by 53.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after acquiring an additional 1,161,600 shares during the last quarter. Pentwater Capital Management LP bought a new position in HashiCorp during the 2nd quarter worth approximately $91,654,000. Finally, Magnetar Financial LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $71,490,000. 87.83% of the stock is currently owned by institutional investors.

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.