HashiCorp, Inc. (NASDAQ:HCP) Receives $32.08 Average Price Target from Analysts

HashiCorp, Inc. (NASDAQ:HCP) has received an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.08.

Several research analysts recently weighed in on HCP shares. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. StockNews.com assumed coverage on shares of HashiCorp in a report on Monday. They issued a “hold” rating on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th.

Insider Activity

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the sale, the chief financial officer now owns 91,485 shares in the company, valued at approximately $3,064,747.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares in the company, valued at $3,064,747.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,132,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 404,041 shares of company stock worth $13,636,943. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors have recently bought and sold shares of HCP. Charles Schwab Investment Management Inc. raised its position in shares of HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after acquiring an additional 63,879 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of HashiCorp by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock worth $24,799,000 after buying an additional 92,586 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of HashiCorp by 569.4% in the 4th quarter. Hsbc Holdings PLC now owns 99,235 shares of the company’s stock valued at $2,373,000 after buying an additional 84,410 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of HashiCorp by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after buying an additional 420 shares during the last quarter. Finally, Adams Wealth Management raised its stake in HashiCorp by 38.5% during the 4th quarter. Adams Wealth Management now owns 71,743 shares of the company’s stock worth $1,696,000 after acquiring an additional 19,958 shares in the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Stock Up 0.1 %

Shares of NASDAQ:HCP opened at $33.90 on Wednesday. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.06. The stock has a market cap of $6.82 billion, a P/E ratio of -35.31 and a beta of 1.25. The business has a fifty day moving average of $33.77 and a two-hundred day moving average of $31.96.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned ($0.34) earnings per share. On average, equities analysts anticipate that HashiCorp will post -0.48 earnings per share for the current year.

HashiCorp Company Profile

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.