HashiCorp, Inc. (NASDAQ:HCP) Receives $34.40 Consensus Target Price from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $34.40.

A number of analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

Institutional Trading of HashiCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC acquired a new position in shares of HashiCorp in the 3rd quarter worth $38,000. Blue Trust Inc. lifted its holdings in shares of HashiCorp by 331.2% during the fourth quarter. Blue Trust Inc. now owns 2,057 shares of the company’s stock valued at $70,000 after purchasing an additional 1,580 shares during the last quarter. KBC Group NV boosted its position in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the period. Sterling Capital Management LLC increased its stake in HashiCorp by 16.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock worth $124,000 after purchasing an additional 524 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in HashiCorp by 64.8% during the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company’s stock worth $198,000 after buying an additional 2,296 shares during the period. 86.25% of the stock is owned by institutional investors and hedge funds.

HashiCorp Price Performance

Shares of HCP opened at $34.78 on Wednesday. The firm has a market capitalization of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The firm has a 50-day moving average price of $34.50 and a 200 day moving average price of $34.12. HashiCorp has a 52-week low of $23.00 and a 52-week high of $34.85.

About HashiCorp

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.