Truist Financial Has Lowered Expectations for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its price target reduced by equities researchers at Truist Financial from $900.00 to $720.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Truist Financial’s price objective points to a potential upside of 30.90% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Barclays raised shares of HubSpot from an “equal weight” rating to an “overweight” rating and set a $815.00 price objective for the company in a research report on Wednesday, March 12th. Redburn Atlantic started coverage on HubSpot in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Wells Fargo & Company upped their target price on HubSpot from $835.00 to $940.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. UBS Group raised shares of HubSpot from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $775.00 to $675.00 in a research report on Tuesday. Finally, Oppenheimer upped their price target on shares of HubSpot from $850.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $827.23.

HubSpot Stock Up 0.5 %

Shares of HUBS stock traded up $2.85 during trading hours on Wednesday, hitting $550.03. 59,189 shares of the company were exchanged, compared to its average volume of 617,270. HubSpot has a 1 year low of $434.84 and a 1 year high of $881.13. The firm has a fifty day moving average of $642.64 and a 200 day moving average of $659.76. The firm has a market cap of $28.69 billion, a PE ratio of 6,106.17, a PEG ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a net margin of 0.17% and a negative return on equity of 0.07%. Analysts expect that HubSpot will post 1.01 earnings per share for the current year.

Insider Buying and Selling at HubSpot

In related news, CEO Yamini Rangan sold 2,382 shares of HubSpot stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the sale, the chief executive officer now directly owns 72,373 shares in the company, valued at $41,536,312.16. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $810.00, for a total transaction of $6,885,000.00. Following the completion of the sale, the insider now directly owns 524,751 shares of the company’s stock, valued at $425,048,310. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,382 shares of company stock valued at $13,415,657 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

A number of institutional investors have recently made changes to their positions in HUBS. Wellington Management Group LLP raised its holdings in HubSpot by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker’s stock worth $1,029,262,000 after purchasing an additional 74,990 shares in the last quarter. Geode Capital Management LLC increased its position in shares of HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock valued at $577,572,000 after purchasing an additional 9,922 shares during the period. Groupama Asset Managment increased its position in shares of HubSpot by 3.8% during the 4th quarter. Groupama Asset Managment now owns 726,799 shares of the software maker’s stock valued at $506,412,000 after purchasing an additional 26,799 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of HubSpot by 18.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 676,074 shares of the software maker’s stock worth $471,068,000 after buying an additional 104,800 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of HubSpot by 3.8% in the fourth 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. 90.39% of the stock is owned by institutional investors and hedge funds.

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.