BMO Capital Markets Forecasts Strong Price Appreciation for HubSpot (NYSE:HUBS) Stock

HubSpot (NYSE:HUBS) had its price target increased by BMO Capital Markets from $690.00 to $885.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price target indicates a potential upside of 6.96% from the company’s current price.

Other equities analysts have also issued reports about the stock. Mizuho lifted their price objective on shares of HubSpot from $725.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group boosted their price objective on shares of HubSpot from $783.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group upped their target price on HubSpot from $860.00 to $900.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and set a $900.00 price target (up previously from $750.00) on shares of HubSpot in a research note on Thursday. Finally, Raymond James raised their target price on shares of HubSpot from $750.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $854.63.

HubSpot Price Performance

HUBS stock traded up $41.88 during midday trading on Thursday, hitting $827.38. 724,208 shares of the stock traded hands, compared to its average volume of 467,922. The stock’s fifty day simple moving average is $732.48 and its 200-day simple moving average is $617.71. The firm has a market cap of $42.71 billion, a P/E ratio of -3,066.76, a PEG ratio of 43.94 and a beta of 1.72. HubSpot has a 1-year low of $434.84 and a 1-year high of $881.13.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 EPS 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, research analysts predict that HubSpot will post 0.42 earnings per share for the current year.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 3,057 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total value of $2,144,760.63. Following the sale, the chief executive officer now directly owns 54,079 shares in the company, valued at $37,941,285.61. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the sale, the insider now owns 513,698 shares of the company’s stock, valued at $339,857,459.82. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,112 shares of company stock worth $51,432,627 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in HubSpot by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker’s stock worth $1,029,262,000 after purchasing an additional 74,990 shares in the last quarter. Geode Capital Management LLC lifted its position in HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock worth $577,572,000 after acquiring an additional 9,922 shares during the last quarter. Groupama Asset Managment boosted its stake in HubSpot by 3.8% during the 4th quarter. Groupama Asset Managment now owns 726,799 shares of the software maker’s stock valued at $506,412,000 after purchasing an additional 26,799 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of HubSpot by 18.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 676,074 shares of the software maker’s stock valued at $471,068,000 after acquiring an additional 104,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in HubSpot by 3.8% in the 4th quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock valued at $469,987,000 after purchasing an additional 24,799 shares during the period. Institutional investors and hedge funds 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.