HubSpot (NYSE:HUBS) Price Target Raised to $850.00 at Bank of America

HubSpot (NYSE:HUBS) had its target price raised by research analysts at Bank of America from $780.00 to $850.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Bank of America‘s target price points to a potential upside of 16.12% from the stock’s current price.

A number of other brokerages have also commented on HUBS. The Goldman Sachs Group increased their price objective on HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price target on HubSpot from $750.00 to $880.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer boosted their price objective on shares of HubSpot from $625.00 to $740.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Truist Financial reissued a “buy” rating and set a $750.00 target price (up previously from $600.00) on shares of HubSpot in a report on Friday, November 8th. Finally, BMO Capital Markets upped their price target on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $702.23.

HubSpot Stock Up 1.4 %

Shares of HUBS traded up $10.14 during mid-day trading on Monday, reaching $732.00. The company’s stock had a trading volume of 17,585 shares, compared to its average volume of 584,510. The business has a fifty day moving average of $637.78 and a 200 day moving average of $564.11. HubSpot has a 1 year low of $434.84 and a 1 year high of $762.47. The company has a market cap of $37.79 billion, a price-to-earnings ratio of -2,711.01, a price-to-earnings-growth ratio of 88.26 and a beta of 1.70.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The firm had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. On average, analysts predict that HubSpot will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the transaction, the insider now owns 513,698 shares in the company, valued at $339,857,459.82. This represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yamini Rangan sold 115 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the sale, the chief executive officer now owns 61,179 shares of the company’s stock, valued at $43,668,958.41. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,390 shares of company stock valued at $29,126,596 over the last quarter. 4.50% of the stock is owned by company insiders.

Institutional Trading of HubSpot

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of HubSpot by 52.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock worth $745,410,000 after purchasing an additional 480,796 shares during the period. Geode Capital Management LLC boosted its position in HubSpot by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after acquiring an additional 19,974 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of HubSpot by 17.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after acquiring an additional 86,688 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in HubSpot by 8.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock valued at $280,186,000 after purchasing an additional 40,138 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of HubSpot by 17.5% during the 3rd quarter. Holocene Advisors LP now owns 319,767 shares of the software maker’s stock worth $169,988,000 after acquiring an additional 47,736 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other 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.