HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note released on Tuesday morning. The firm issued a hold rating on the stock.

Several other analysts have also recently commented on HCP. Stifel Nicolaus raised their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, March 6th. William Blair lowered shares of HashiCorp from an outperform rating to a market perform rating in a research report on Wednesday, April 24th. TD Cowen lifted their price target on shares of HashiCorp from $23.00 to $26.00 and gave the company a market perform rating in a research report on Wednesday, March 6th. Scotiabank reaffirmed a sector perform rating and set a $35.00 target price (up previously from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Finally, JMP Securities reaffirmed a market perform rating on shares of HashiCorp in a research report on Thursday, June 6th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $31.17.

HashiCorp Stock Up 0.4 %

HCP stock opened at $33.75 on Tuesday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The firm’s 50-day simple moving average is $33.31 and its 200 day simple moving average is $27.57. The stock has a market cap of $6.79 billion, a PE ratio of -35.16 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The firm had revenue of $160.58 million for the quarter, compared to analysts’ expectations of $153.39 million. Equities analysts forecast that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Activity

In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the sale, the chief technology officer now owns 1,625,260 shares in the company, valued at approximately $39,510,070.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,266 shares of company stock worth $11,517,392. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its holdings in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd grew its position in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. Industry Ventures L.L.C. acquired a new position in shares of HashiCorp in the 4th quarter valued at approximately $157,000. Entropy Technologies LP acquired a new position in shares of HashiCorp in the 1st quarter valued at approximately $311,000. Finally, SVB Wealth LLC acquired a new position in shares of HashiCorp in the 4th quarter valued at approximately $273,000. 87.83% of the stock is owned by institutional investors.

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.