HashiCorp (NASDAQ:HCP) Stock Rating Upgraded by StockNews.com

HashiCorp (NASDAQ:HCP) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

HCP has been the topic of a number of other research reports. KeyCorp assumed coverage on HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Piper Sandler reissued a “neutral” rating and set a $25.00 price objective (up previously from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $30.00 in a report on Monday, February 26th. JMP Securities reissued a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. Finally, BTIG Research increased their price objective on HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, HashiCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.77.

HashiCorp Trading Up 18.7 %

NASDAQ:HCP opened at $29.15 on Monday. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -29.74 and a beta of 1.42. HashiCorp has a 1-year low of $18.91 and a 1-year high of $36.39. The business’s fifty day moving average price is $25.59 and its 200 day moving average price is $23.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. Equities analysts forecast that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity

In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total value of $365,990.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total value of $365,990.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 224,173 shares of company stock valued at $5,641,396. Company insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. lifted its holdings in shares of HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after purchasing an additional 1,570 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of HashiCorp by 35.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares in the last quarter. Industry Ventures L.L.C. bought a new stake in shares of HashiCorp in the fourth quarter valued at about $157,000. Victory Capital Management Inc. lifted its holdings in shares of HashiCorp by 35.5% in the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares in the last quarter. 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.