HubSpot (NYSE:HUBS) Sets New 1-Year High – Here’s Why

Shares of HubSpot, Inc. (NYSE:HUBS) hit a new 52-week high on Wednesday . The company traded as high as $757.21 and last traded at $749.23, with a volume of 102967 shares changing hands. The stock had previously closed at $719.44.

Wall Street Analyst Weigh In

Several research firms have weighed in on HUBS. Needham & Company LLC reissued a “buy” rating and set a $730.00 price target on shares of HubSpot in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup lowered their price objective on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Bank of America decreased their price target on HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price objective for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $672.68.

HubSpot Trading Up 5.3 %

The company’s 50 day moving average is $604.80 and its 200-day moving average is $557.27. The stock has a market cap of $39.12 billion, a PE ratio of -2,664.59, a P/E/G ratio of 87.96 and a beta of 1.70.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, beating the consensus estimate of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company had revenue of $669.72 million during the quarter, compared to analysts’ expectations of $646.97 million. During the same period in the prior year, the business posted ($0.04) EPS. The business’s revenue was up 20.1% on a year-over-year basis. As a group, analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current year.

Insider Activity

In other news, CFO Kathryn Bueker sold 1,136 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value of $597,354.24. Following the completion of the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $21,695,632.56. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 1,374 shares of HubSpot stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total transaction of $755,700.00. Following the completion of the transaction, the chief executive officer now directly owns 61,294 shares of the company’s stock, valued at approximately $33,711,700. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,275 shares of company stock worth $29,044,510. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HubSpot

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBS. Oddo BHF Asset Management Sas bought a new position in shares of HubSpot during the third quarter worth about $740,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of HubSpot in the third quarter valued at approximately $25,000. Coldstream Capital Management Inc. raised its holdings in shares of HubSpot by 40.8% during the third quarter. Coldstream Capital Management Inc. now owns 783 shares of the software maker’s stock valued at $433,000 after buying an additional 227 shares during the last quarter. Synergy Financial Group LTD increased its position in HubSpot by 14.2% in the 3rd quarter. Synergy Financial Group LTD now owns 933 shares of the software maker’s stock valued at $496,000 after acquiring an additional 116 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of HubSpot by 2.5% during the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after purchasing an additional 19,974 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.