Piper Sandler Cuts HubSpot (NYSE:HUBS) Price Target to $570.00

HubSpot (NYSE:HUBS) had its price target lowered by Piper Sandler from $655.00 to $570.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

A number of other research firms have also recently commented on HUBS. TD Cowen reduced their price target on shares of HubSpot from $700.00 to $680.00 and set a buy rating for the company in a report on Thursday, May 9th. Wells Fargo & Company reduced their price target on shares of HubSpot from $750.00 to $650.00 and set an overweight rating for the company in a report on Thursday. Barclays dropped their price objective on shares of HubSpot from $600.00 to $575.00 and set an equal weight rating on the stock in a research note on Thursday, May 9th. Mizuho dropped their price objective on shares of HubSpot from $700.00 to $650.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Finally, BMO Capital Markets dropped their price objective on shares of HubSpot from $710.00 to $635.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $633.69.

HubSpot Price Performance

HUBS opened at $476.41 on Friday. HubSpot has a twelve month low of $407.23 and a twelve month high of $693.85. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $587.56 and a 200-day moving average of $602.23.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.27. The business had revenue of $617.41 million during the quarter, compared to analysts’ expectations of $597.12 million. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. Analysts predict that HubSpot will post -0.55 earnings per share for the current fiscal year.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the transaction, the chief executive officer now owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the transaction, the chief executive officer now owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Dharmesh Shah sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $586.85, for a total transaction of $14,671,250.00. Following the transaction, the chief technology officer now directly owns 1,348,929 shares of the company’s stock, valued at approximately $791,618,983.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,491 shares of company stock valued at $28,092,844. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in HubSpot by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after purchasing an additional 119,999 shares during the last quarter. Hsbc Holdings PLC lifted its position in HubSpot by 10.1% during the fourth quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker’s stock valued at $13,022,000 after purchasing an additional 2,057 shares during the last quarter. Stifel Financial Corp lifted its position in HubSpot by 15.1% during the fourth quarter. Stifel Financial Corp now owns 33,248 shares of the software maker’s stock valued at $19,302,000 after purchasing an additional 4,371 shares during the last quarter. Strs Ohio lifted its position in HubSpot by 1,203.0% during the fourth quarter. Strs Ohio now owns 20,001 shares of the software maker’s stock valued at $11,611,000 after purchasing an additional 18,466 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in HubSpot by 19.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 22,546 shares of the software maker’s stock valued at $13,089,000 after purchasing an additional 3,671 shares during the last quarter. 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.