Royal Bank of Canada Increases HubSpot (NYSE:HUBS) Price Target to $950.00

HubSpot (NYSE:HUBS) had its price objective upped by research analysts at Royal Bank of Canada from $825.00 to $950.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s target price indicates a potential upside of 16.93% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of HubSpot in a research report on Thursday. BMO Capital Markets boosted their price objective on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Scotiabank boosted their price objective on shares of HubSpot from $700.00 to $825.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 8th. Bank of America boosted their price objective on shares of HubSpot from $780.00 to $850.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Citigroup boosted their price objective on shares of HubSpot from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $857.75.

HubSpot Stock Performance

Shares of NYSE HUBS opened at $812.44 on Thursday. HubSpot has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The company has a 50 day simple moving average of $734.12 and a two-hundred day simple moving average of $619.11. The company has a market capitalization of $41.94 billion, a price-to-earnings ratio of -3,008.92, a P/E/G ratio of 43.94 and a beta of 1.72.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. On average, analysts forecast that HubSpot will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total value of $5,623,515.00. Following the completion of the transaction, the insider now owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. This represents a 1.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 115 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $713.79, for a total transaction of $82,085.85. Following the completion of the transaction, the chief executive officer now directly owns 61,179 shares of the company’s stock, valued at $43,668,958.41. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,112 shares of company stock valued at $51,432,627. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in shares of HubSpot by 5.4% during the 4th quarter. Farther Finance Advisors LLC now owns 255 shares of the software maker’s stock valued at $178,000 after purchasing an additional 13 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in shares of HubSpot by 3.4% during the 4th quarter. Wedbush Securities Inc. now owns 393 shares of the software maker’s stock valued at $274,000 after purchasing an additional 13 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of HubSpot by 2.4% during the 4th quarter. First Horizon Advisors Inc. now owns 638 shares of the software maker’s stock valued at $445,000 after purchasing an additional 15 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of HubSpot by 0.5% during the 4th quarter. Amalgamated Bank now owns 3,259 shares of the software maker’s stock valued at $2,271,000 after purchasing an additional 16 shares during the last quarter. Finally, Avitas Wealth Management LLC raised its position in shares of HubSpot by 0.8% during the 4th quarter. Avitas Wealth Management LLC now owns 2,038 shares of the software maker’s stock valued at $1,420,000 after buying an additional 17 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Company Profile

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.