HashiCorp (NASDAQ:HCP) Raised to “Hold” at StockNews.com

HashiCorp (NASDAQ:HCP) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other equities research analysts have also issued research reports about the stock. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 target price (up previously from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Truist Financial reiterated a “hold” rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. TD Cowen raised their target price on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Citigroup upped their price target on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 22nd. Finally, Piper Sandler increased their price target on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.77.

HashiCorp Trading Up 0.1 %

NASDAQ:HCP opened at $32.85 on Friday. The stock has a 50 day moving average of $27.09 and a two-hundred day moving average of $23.83. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39. The firm has a market cap of $6.55 billion, a P/E ratio of -33.52 and a beta of 1.25.

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

Insider Buying and Selling at HashiCorp

In other news, Director Sigal Zarmi sold 4,350 shares of the 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 transaction, the director now directly owns 37,991 shares in the company, valued at approximately $1,139,730. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Sigal Zarmi sold 4,350 shares of the business’s stock in a transaction that occurred 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 directly owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the completion of the transaction, the chief financial officer now owns 93,925 shares in the company, valued at $2,614,872. The disclosure for this sale can be found here. Insiders have sold 231,523 shares of company stock worth $5,901,732 over the last quarter. 26.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in HashiCorp during the 3rd quarter worth about $309,000. Qsemble Capital Management LP acquired a new stake in shares of HashiCorp during the third quarter worth about $1,119,000. Artemis Investment Management LLP acquired a new stake in shares of HashiCorp during the fourth quarter worth about $7,124,000. Vanguard Group Inc. boosted its stake in shares of HashiCorp by 4.9% in the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after purchasing an additional 455,179 shares during the period. Finally, Versor Investments LP acquired a new position in shares of HashiCorp in the third quarter valued at approximately $491,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.