Piper Sandler Reiterates Neutral Rating for HashiCorp (NASDAQ:HCP)

Piper Sandler restated their neutral rating on shares of HashiCorp (NASDAQ:HCP) in a report issued on Friday, Benzinga reports. They currently have a $35.00 target price on the stock.

A number of other research firms have also issued reports on HCP. StockNews.com assumed coverage on HashiCorp in a report on Sunday, August 25th. They issued a hold rating for the company. JMP Securities restated 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, HashiCorp currently has a consensus rating of Hold and an average price target of $31.17.

HashiCorp Stock Up 0.4 %

HCP opened at $33.94 on Friday. The firm has a market cap of $6.82 billion, a PE ratio of -35.35 and a beta of 1.25. The business has a fifty day simple moving average of $33.65 and a 200-day simple moving average of $30.74. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the business posted ($0.34) EPS. HashiCorp’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that HashiCorp will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.74, for a total transaction of $469,525.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares in the company, valued at approximately $2,991,466.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $33.74, for a total transaction of $469,525.84. The disclosure for this sale can be found here. Insiders sold 370,832 shares of company stock valued at $12,425,028 over the last 90 days. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Water Island Capital LLC acquired a new stake in shares of HashiCorp during the 2nd quarter worth approximately $37,762,000. Algert Global LLC boosted its stake in HashiCorp by 13.6% during the second quarter. Algert Global LLC now owns 75,676 shares of the company’s stock worth $2,550,000 after buying an additional 9,036 shares in the last quarter. Murchinson Ltd. acquired a new position in shares of HashiCorp in the 2nd quarter valued at $3,369,000. Susquehanna Fundamental Investments LLC bought a new position in shares of HashiCorp during the 2nd quarter worth about $5,384,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of HashiCorp by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,381 shares of the company’s stock valued at $1,024,000 after acquiring an additional 6,506 shares in the last quarter. 87.83% of the stock is currently 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.