HubSpot (NYSE:HUBS) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of HubSpot (NYSE:HUBS) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $700.00 target price on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group decreased their price objective on HubSpot from $700.00 to $600.00 and set a buy rating for the company in a report on Thursday, August 8th. Barclays decreased their price target on HubSpot from $575.00 to $500.00 and set an equal weight rating for the company in a report on Friday, August 9th. BMO Capital Markets decreased their price target on HubSpot from $635.00 to $570.00 and set an outperform rating for the company in a report on Thursday, August 8th. Oppenheimer reduced their target price on HubSpot from $725.00 to $625.00 and set an outperform rating for the company in a report on Monday, July 22nd. Finally, Bank of America dropped their price objective on HubSpot from $650.00 to $580.00 and set a buy rating for the company in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, HubSpot has an average rating of Moderate Buy and a consensus price target of $610.79.

HubSpot Stock Up 5.2 %

Shares of HubSpot stock opened at $530.16 on Thursday. The firm has a market capitalization of $27.02 billion, a P/E ratio of -200.06, a P/E/G ratio of 3,140.82 and a beta of 1.63. HubSpot has a 52 week low of $407.23 and a 52 week high of $693.85. The firm’s 50 day moving average is $488.79 and its two-hundred day moving average is $567.18.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.17) earnings per share. As a group, research analysts expect that HubSpot will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $586.85, for a total transaction of $14,671,250.00. Following the sale, the chief technology officer now directly owns 1,348,929 shares in the company, valued at approximately $791,618,983.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kathryn Bueker sold 1,135 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $672,828.00. Following the completion of the sale, the chief financial officer now directly owns 44,715 shares in the company, valued at approximately $26,507,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $14,671,250.00. Following the completion of the sale, the chief technology officer now owns 1,348,929 shares of the company’s stock, valued at $791,618,983.65. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock worth $21,300,253 in the last three months. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On HubSpot

A number of institutional investors have recently made changes to their positions in HUBS. Riverview Trust Co bought a new stake in shares of HubSpot in the 1st quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its stake in HubSpot by 1,125.0% during the 1st 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 last quarter. International Assets Investment Management LLC bought a new position in HubSpot during the 2nd quarter worth $35,000. Crewe Advisors LLC grew its stake in HubSpot by 525.0% during the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock worth $44,000 after buying an additional 63 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC grew its stake in HubSpot by 54.0% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 77 shares of the software maker’s stock worth $48,000 after buying an additional 27 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.