BMO Capital Markets Cuts HubSpot (NYSE:HUBS) Price Target to $600.00

HubSpot (NYSE:HUBS) had its price objective cut by BMO Capital Markets from $650.00 to $600.00 in a research note published on Thursday, MarketBeat reports. They currently have an outperform rating on the software maker’s stock.

A number of other analysts have also recently issued reports on HUBS. Stifel Nicolaus lowered their price objective on HubSpot from $750.00 to $700.00 and set a “buy” rating on the stock in a research report on Monday, July 14th. Oppenheimer boosted their price objective on HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Citigroup boosted their price objective on HubSpot from $750.00 to $759.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Raymond James Financial restated an “outperform” rating and set a $825.00 price objective (down from $980.00) on shares of HubSpot in a research report on Friday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of HubSpot in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus price target of $726.04.

HubSpot Trading Down 2.8%

HUBS opened at $449.10 on Thursday. The stock has a market cap of $23.68 billion, a PE ratio of -1,952.61, a P/E/G ratio of 16.24 and a beta of 1.66. HubSpot has a 1 year low of $444.25 and a 1 year high of $881.13. The stock’s 50 day simple moving average is $547.87 and its 200-day simple moving average is $612.52.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.07. The business had revenue of $760.87 million for the quarter, compared to analysts’ expectations of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%. HubSpot’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share. Equities analysts forecast that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total value of $4,616,095.00. Following the completion of the sale, the director directly owned 522,435 shares in the company, valued at $283,718,775.45. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the sale, the chief executive officer owned 63,918 shares of the company’s stock, valued at $35,269,313.22. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,998 shares of company stock worth $10,928,616 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HubSpot

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBS. Highview Capital Management LLC DE raised its position in HubSpot by 4.5% in the 4th quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker’s stock valued at $2,098,000 after buying an additional 129 shares during the last quarter. National Bank of Canada FI raised its position in HubSpot by 64.5% in the 4th quarter. National Bank of Canada FI now owns 926 shares of the software maker’s stock valued at $645,000 after buying an additional 363 shares during the last quarter. World Investment Advisors acquired a new stake in HubSpot in the 4th quarter valued at approximately $226,000. Envestnet Asset Management Inc. raised its position in HubSpot by 2.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 67,895 shares of the software maker’s stock valued at $47,307,000 after buying an additional 1,717 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in HubSpot by 3.4% in the 4th quarter. Wedbush Securities Inc. now owns 393 shares of the software maker’s stock valued at $274,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.