HubSpot (NYSE:HUBS) Given New $350.00 Price Target at Oppenheimer

HubSpot (NYSE:HUBS) had its price target reduced by stock analysts at Oppenheimer from $550.00 to $350.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price indicates a potential upside of 40.46% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on HUBS. Bank of America lowered their price objective on shares of HubSpot from $640.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Wells Fargo & Company reduced their price objective on shares of HubSpot from $685.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. BMO Capital Markets dropped their target price on shares of HubSpot from $465.00 to $385.00 and set an “outperform” rating on the stock in a report on Thursday, January 29th. Zacks Research cut shares of HubSpot from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, UBS Group dropped their target price on HubSpot from $600.00 to $450.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $580.07.

HubSpot Stock Performance

Shares of HUBS traded up $4.02 during mid-day trading on Wednesday, reaching $249.18. 1,016,268 shares of the company’s stock traded hands, compared to its average volume of 1,309,372. The stock has a market capitalization of $13.05 billion, a P/E ratio of -3,121.98, a price-to-earnings-growth ratio of 6.51 and a beta of 1.44. The business’s 50-day moving average price is $360.34 and its 200-day moving average price is $428.78. HubSpot has a 12 month low of $227.78 and a 12 month high of $881.13.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Thursday, November 6th. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.The company had revenue of $809.52 million during the quarter, compared to the consensus estimate of $786.80 million. During the same quarter in the prior year, the firm earned $2.18 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that HubSpot will post 1.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Brian Halligan sold 8,500 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the sale, the director owned 487,344 shares in the company, valued at approximately $147,850,422.72. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 25,500 shares of company stock valued at $8,827,080. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in HubSpot by 88.5% in the first quarter. Empowered Funds LLC now owns 1,570 shares of the software maker’s stock worth $897,000 after purchasing an additional 737 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in HubSpot in the 2nd quarter valued at $156,000. QRG Capital Management Inc. increased its stake in HubSpot by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 434 shares of the software maker’s stock worth $242,000 after acquiring an additional 24 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of HubSpot by 0.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 26,850 shares of the software maker’s stock worth $14,946,000 after buying an additional 100 shares during the last quarter. Finally, Sax Wealth Advisors LLC boosted its stake in shares of HubSpot by 40.0% during the 2nd quarter. Sax Wealth Advisors LLC now owns 1,767 shares of the software maker’s stock worth $984,000 after purchasing an additional 505 shares during the period. Institutional investors own 90.39% of the company’s stock.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.