HashiCorp (NASDAQ:HCP) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Thursday morning, Benzinga reports.

Other research analysts have also issued research reports about the company. Oppenheimer reaffirmed an outperform rating and set a $34.00 price target on shares of HashiCorp in a research report on Wednesday, March 6th. StockNews.com upgraded HashiCorp from a sell rating to a hold rating in a report on Monday, April 22nd. Morgan Stanley upgraded HashiCorp from an equal weight rating to an overweight rating and upped their target price for the stock from $23.00 to $30.00 in a report on Monday, February 26th. KeyCorp assumed coverage on HashiCorp in a report on Tuesday, March 19th. They set a sector weight rating on the stock. Finally, Citigroup upped their target price on HashiCorp from $22.00 to $24.00 and gave the stock a neutral rating in a report on Monday, January 22nd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, HashiCorp presently has a consensus rating of Hold and an average price target of $30.77.

HashiCorp Trading Down 0.7 %

Shares of HashiCorp stock opened at $32.59 on Thursday. The business’s fifty day simple moving average is $26.08 and its 200 day simple moving average is $23.46. The firm has a market capitalization of $6.50 billion, a P/E ratio of -33.26 and a beta of 1.42. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39.

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

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Friday, February 2nd. The shares were 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 approximately $41,546,035.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the sale, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at $1,372,512.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the transaction, the chief technology officer now owns 1,804,780 shares in the company, valued at $41,546,035.60. The disclosure for this sale can be found here. Insiders sold 267,427 shares of company stock valued at $6,728,242 in the last 90 days. Company insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HCP. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of HashiCorp in the third quarter valued at about $309,000. Qsemble Capital Management LP purchased a new position in shares of HashiCorp during the third quarter valued at approximately $1,119,000. Artemis Investment Management LLP purchased a new position in shares of HashiCorp during the fourth quarter valued at approximately $7,124,000. Vanguard Group Inc. lifted its stake in shares of HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after buying an additional 455,179 shares during the period. Finally, Versor Investments LP purchased a new position in shares of HashiCorp during the third quarter valued at approximately $491,000. 87.83% of the stock is currently 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.