HubSpot (NYSE:HUBS) Downgraded by TD Cowen to “Hold”

HubSpot (NYSE:HUBS) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Friday,Briefing.com Automated Import reports. They currently have a $725.00 price target on the software maker’s stock, up from their previous price target of $680.00. TD Cowen’s price objective would suggest a potential upside of 0.93% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group upgraded shares of HubSpot from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on shares of HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Morgan Stanley increased their price objective on HubSpot from $747.00 to $835.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler lowered HubSpot from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $570.00 to $640.00 in a research report on Thursday, November 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $750.00 target price (up from $600.00) on shares of HubSpot in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $721.26.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $718.34 on Friday. The business has a 50 day simple moving average of $711.05 and a two-hundred day simple moving average of $584.33. HubSpot has a 1 year low of $434.84 and a 1 year high of $762.47. The firm has a market capitalization of $37.08 billion, a PE ratio of -2,660.43, a price-to-earnings-growth ratio of 41.24 and a beta of 1.70.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $646.97 million. During the same quarter in the prior year, the company posted ($0.04) EPS. HubSpot’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts expect that HubSpot will post 0.42 EPS for the current fiscal year.

Insider Transactions at HubSpot

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the firm’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 trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total transaction of $16,815,500.00. Following the sale, the chief technology officer now owns 1,323,145 shares of the company’s stock, valued at $889,973,789.90. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,066 shares of company stock valued at $54,900,427 in the last quarter. 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 added to or reduced their stakes in HUBS. Wellington Management Group LLP grew its stake in HubSpot by 52.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after purchasing an additional 480,796 shares during the last quarter. Geode Capital Management LLC boosted its position in HubSpot by 2.5% in the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after buying an additional 19,974 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 buying an additional 86,688 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after buying an additional 40,138 shares during the last quarter. Finally, Holocene Advisors LP raised its position in 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 buying an additional 47,736 shares during the last quarter. Hedge funds and other 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.