HashiCorp (NASDAQ:HCP) Rating Reiterated by Scotiabank

Scotiabank reiterated their sector perform rating on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Thursday, Benzinga reports. Scotiabank currently has a $35.00 price objective on the stock, up from their previous price objective of $31.00.

Other research analysts have also issued research reports about the company. BTIG Research lowered HashiCorp from a buy rating to a neutral rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, March 6th. TD Cowen boosted their target price on HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a report on Wednesday, March 6th. Citigroup boosted their target price on HashiCorp from $22.00 to $24.00 and gave the stock a neutral rating in a report on Monday, January 22nd. Finally, Morgan Stanley raised HashiCorp from an equal weight rating to an overweight rating and boosted their target price for the stock from $23.00 to $30.00 in a report on Monday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $30.77.

HashiCorp Stock Performance

Shares of HashiCorp stock opened at $32.59 on Thursday. The firm has a market cap of $6.50 billion, a PE ratio of -33.25 and a beta of 1.42. HashiCorp has a 52-week low of $18.91 and a 52-week high of $36.39. The business’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $23.45.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.06. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. As a group, equities research analysts predict that HashiCorp will post -0.8 EPS for the current year.

Insider Activity

In other news, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the completion of the sale, the director now directly owns 37,991 shares in the company, valued at approximately $1,139,730. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the sale, the chief technology officer now directly owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the sale, the director now owns 37,991 shares of the company’s stock, valued at $1,139,730. The disclosure for this sale can be found here. In the last three months, insiders sold 267,427 shares of company stock worth $6,728,242. 26.13% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in HashiCorp by 47.6% in the third quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock valued at $912,000 after acquiring an additional 12,884 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of HashiCorp by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock valued at $6,929,000 after purchasing an additional 10,322 shares in the last quarter. Xponance Inc. boosted its stake in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of HashiCorp by 10.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after purchasing an additional 32,006 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in HashiCorp by 19.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,596 shares of the company’s stock valued at $1,589,000 after purchasing an additional 11,278 shares during the last quarter. 87.83% of the stock is owned by institutional investors and hedge funds.

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.