Scotiabank Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its price target upped by investment analysts at Scotiabank from $700.00 to $825.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the software maker’s stock. Scotiabank’s price objective would indicate a potential upside of 17.85% from the company’s previous close.

Several other analysts also recently weighed in on HUBS. Wells Fargo & Company lifted their price target on shares of HubSpot from $750.00 to $810.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their price objective on HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their target price on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $714.05.

HubSpot Stock Down 1.1 %

HUBS stock opened at $700.07 on Wednesday. HubSpot has a twelve month low of $434.84 and a twelve month high of $762.47. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of -2,592.76, a PEG ratio of 87.75 and a beta of 1.70. The business’s fifty day simple moving average is $694.84 and its two-hundred day simple moving average is $579.08.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping the consensus estimate of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The company had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same quarter last year, the firm posted ($0.04) EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. Research analysts expect that HubSpot will post 0.4 EPS for the current year.

Insiders Place Their Bets

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, CEO Yamini Rangan sold 1,374 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $550.00, for a total transaction of $755,700.00. Following the sale, the chief executive officer now directly owns 61,294 shares in the company, valued at $33,711,700. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,244 shares of company stock valued at $56,648,327. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in HubSpot by 52.2% in the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after buying an additional 480,796 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of HubSpot by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after acquiring an additional 19,974 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of HubSpot by 17.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after acquiring an additional 86,688 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of HubSpot by 8.2% in the third 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 acquiring an additional 40,138 shares during the period. Finally, Holocene Advisors LP raised its holdings in shares of HubSpot by 17.5% during the third quarter. Holocene Advisors LP now owns 319,767 shares of the software maker’s stock worth $169,988,000 after purchasing an additional 47,736 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.