HubSpot (NYSE:HUBS) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of HubSpot (NYSE:HUBS) in a report issued on Thursday, Benzinga reports. They currently have a $700.00 target price on the software maker’s stock.

Several other equities research analysts also recently commented on the company. Canaccord Genuity Group reduced their target price on HubSpot from $700.00 to $600.00 and set a buy rating for the company in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on HubSpot from $650.00 to $625.00 and set an overweight rating on the stock in a research note on Thursday, August 8th. Piper Sandler reissued an overweight rating and issued a $570.00 price target on shares of HubSpot in a research report on Thursday. Needham & Company LLC reaffirmed a buy rating and set a $730.00 price objective on shares of HubSpot in a research report on Thursday. Finally, Oppenheimer cut their target price on shares of HubSpot from $725.00 to $625.00 and set an outperform rating for the company in a research report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $610.79.

HubSpot Price Performance

HUBS opened at $526.88 on Thursday. The stock has a market capitalization of $26.85 billion, a PE ratio of -198.82, a P/E/G ratio of 3,140.82 and a beta of 1.63. The firm’s fifty day moving average price is $489.80 and its 200 day moving average price is $566.20. HubSpot has a 12-month low of $407.23 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The company had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. During the same quarter in the previous year, the company posted ($1.17) earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that HubSpot will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $467.23, for a total value of $179,416.32. Following the completion of the sale, the insider now directly owns 9,735 shares in the company, valued at approximately $4,548,484.05. The disclosure for this sale can be found here. Insiders have sold a total of 38,012 shares of company stock valued at $21,300,253 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HubSpot

Several large investors have recently bought and sold shares of HUBS. Sanctuary Advisors LLC acquired a new stake in HubSpot in the 2nd quarter worth $3,689,000. Sycomore Asset Management lifted its stake in shares of HubSpot by 9.5% in the second quarter. Sycomore Asset Management now owns 2,988 shares of the software maker’s stock valued at $1,699,000 after buying an additional 260 shares during the period. Cetera Investment Advisers grew its position in HubSpot by 17.8% during the second quarter. Cetera Investment Advisers now owns 4,706 shares of the software maker’s stock worth $2,776,000 after buying an additional 712 shares in the last quarter. Quarry LP bought a new position in HubSpot during the second quarter valued at about $146,000. Finally, NewEdge Advisors LLC raised its holdings in HubSpot by 2.2% in the 2nd quarter. NewEdge Advisors LLC now owns 3,344 shares of the software maker’s stock valued at $1,972,000 after acquiring an additional 72 shares in the last quarter. 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.