Royal Bank of Canada Forecasts Strong Price Appreciation for HubSpot (NYSE:HUBS) Stock

HubSpot (NYSE:HUBS) had its price objective hoisted by analysts at Royal Bank of Canada from $700.00 to $750.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 16.20% from the company’s current price.

A number of other research firms have also commented on HUBS. KeyCorp raised HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target for the company in a research report on Thursday, August 8th. Stifel Nicolaus upped their price objective on shares of HubSpot from $600.00 to $625.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group lifted their target price on shares of HubSpot from $550.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday. Truist Financial reissued a “buy” rating and issued a $600.00 price target (down from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Finally, Barclays cut their price objective on HubSpot from $575.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, HubSpot presently has a consensus rating of “Moderate Buy” and an average target price of $638.88.

HubSpot Stock Performance

Shares of NYSE HUBS traded up $47.66 during mid-day trading on Thursday, hitting $645.45. The stock had a trading volume of 624,363 shares, compared to its average volume of 587,736. The business has a 50 day moving average price of $529.41 and a two-hundred day moving average price of $545.99. HubSpot has a 1 year low of $413.07 and a 1 year high of $693.85. The firm has a market cap of $33.14 billion, a P/E ratio of -1,189.57, a price-to-earnings-growth ratio of 7,506.16 and a beta of 1.63.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $637.20 million for the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) EPS.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other HubSpot news, CFO Kathryn Bueker sold 1,804 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $22,692,450. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares in the company, valued at approximately $33,009,441.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,937 shares of company stock worth $3,194,673 in the last three months. Insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

Several large investors have recently added to or reduced their stakes in HUBS. Geneos Wealth Management Inc. raised its stake in shares of HubSpot by 1,125.0% in the first quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after buying an additional 45 shares during the period. International Assets Investment Management LLC bought a new stake in HubSpot during the 2nd quarter worth approximately $35,000. HM Payson & Co. raised its stake in HubSpot by 36.0% during the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after acquiring an additional 18 shares during the period. Crewe Advisors LLC lifted its holdings in HubSpot by 525.0% during the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after purchasing an additional 63 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its position in shares of HubSpot by 690.9% in the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after purchasing an additional 76 shares during the period. 90.39% of the stock is currently owned by institutional investors.

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.