HubSpot (NYSE:HUBS) Stock Rating Upgraded by Sanford C. Bernstein

HubSpot (NYSE:HUBS) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a $606.00 price target on the software maker’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 30.29% from the company’s previous close.

HUBS has been the subject of a number of other reports. Oppenheimer upped their price objective on HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Wall Street Zen upgraded HubSpot from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. The Goldman Sachs Group cut their price objective on HubSpot from $900.00 to $795.00 and set a “buy” rating for the company in a report on Friday, May 9th. Truist Financial cut their price objective on HubSpot from $720.00 to $675.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Canaccord Genuity Group cut their price objective on HubSpot from $765.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and an average price target of $722.93.

HubSpot Stock Down 1.6%

Shares of NYSE HUBS opened at $465.10 on Wednesday. The firm has a market capitalization of $24.51 billion, a P/E ratio of -2,022.18, a P/E/G ratio of 16.29 and a beta of 1.58. The stock’s 50-day simple moving average is $505.41 and its two-hundred day simple moving average is $571.38. HubSpot has a twelve month low of $418.34 and a twelve month high of $881.13.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The business had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. During the same period in the prior year, the company earned $1.94 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, research analysts anticipate that HubSpot will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In related news, 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 transaction of $1,314,915.57. Following the completion of the sale, the chief executive officer directly owned 63,918 shares in the company, valued at $35,269,313.22. This represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the sale, the director owned 522,435 shares of the company’s stock, valued at approximately $235,012,160.40. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,498 shares of company stock worth $14,752,256 in the last ninety days. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On HubSpot

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in HubSpot by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,391,241 shares of the software maker’s stock worth $3,000,926,000 after buying an additional 144,507 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in HubSpot by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker’s stock worth $2,805,070,000 after buying an additional 714,980 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker’s stock worth $530,115,000 after acquiring an additional 251,853 shares in the last quarter. Geode Capital Management LLC raised its position in shares of HubSpot by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 925,938 shares of the software maker’s stock worth $513,886,000 after acquiring an additional 38,096 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of HubSpot by 548.6% in the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker’s stock worth $442,341,000 after acquiring an additional 672,158 shares in the last quarter. Hedge funds and other institutional investors 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.