HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Tuesday. The firm set a “hold” rating on the stock.

HCP has been the subject of a number of other research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Needham & Company LLC reissued a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. Piper Sandler raised their price objective on HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their target price on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.17.

HashiCorp Trading Down 0.1 %

HCP opened at $33.66 on Tuesday. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.05. The stock has a market capitalization of $6.77 billion, a PE ratio of -35.06 and a beta of 1.25. The firm has a 50-day moving average price of $33.16 and a two-hundred day moving average price of $27.40.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. On average, research analysts predict that HashiCorp will post -0.8 EPS for the current year.

Insider Buying and Selling at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total transaction of $365,990.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the transaction, 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 ninety days, insiders sold 359,266 shares of company stock worth $11,517,392. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently added to or reduced their stakes in HCP. Advisors Asset Management Inc. increased its position in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares in the last quarter. Covestor Ltd grew its stake in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares during the period. Industry Ventures L.L.C. bought a new stake in shares of HashiCorp during the fourth quarter valued at approximately $157,000. SVB Wealth LLC acquired a new position in shares of HashiCorp during the fourth quarter worth approximately $273,000. Finally, Aristides Capital LLC bought a new position in shares of HashiCorp in the 4th quarter worth $286,000. 87.83% of the stock is owned by institutional investors and hedge funds.

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.