Royal Bank of Canada Boosts HubSpot (NYSE:HUBS) Price Target to $328.00

HubSpot (NYSE:HUBS) had its target price hoisted by Royal Bank of Canada from $280.00 to $328.00 in a research note issued on Wednesday, The Fly reports. Royal Bank of Canada’s price target points to a potential upside of 13.58% from the company’s current price.

Other research analysts have also issued reports about the company. Guggenheim boosted their price target on HubSpot from $195.00 to $260.00 in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on HubSpot from $160.00 to $240.00 in a research report on Tuesday, August 4th. Piper Sandler upped their target price on HubSpot from $200.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Canaccord Genuity upped their target price on HubSpot from $205.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group upped their target price on HubSpot from $202.00 to $285.00 in a research report on Thursday, August 6th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. HubSpot has a consensus rating of “Buy” and a consensus target price of $268.55.

Shares of HUBS traded up $6.61 during trading hours on Wednesday, hitting $288.79. The company had a trading volume of 4,187 shares, compared to its average volume of 704,161. The company has a market capitalization of $12.86 billion, a PE ratio of -172.93 and a beta of 1.64. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.65. HubSpot has a one year low of $90.83 and a one year high of $320.89. The company’s fifty day moving average price is $277.31 and its two-hundred day moving average price is $205.36.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.17. The firm had revenue of $203.61 million during the quarter, compared to analyst estimates of $195.43 million. HubSpot had a negative return on equity of 3.90% and a negative net margin of 9.50%. Analysts forecast that HubSpot will post -1.52 earnings per share for the current year.

In other news, CEO Brian Halligan sold 8,500 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $231.90, for a total value of $1,971,150.00. Following the sale, the chief executive officer now owns 700,794 shares in the company, valued at $162,514,128.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yamini Rangan sold 4,273 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $279.50, for a total value of $1,194,303.50. Following the completion of the sale, the insider now owns 62,124 shares in the company, valued at approximately $17,363,658. The disclosure for this sale can be found here. Insiders sold 30,843 shares of company stock worth $8,232,316 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. San Francisco Sentry Investment Group CA purchased a new stake in shares of HubSpot in the second quarter worth about $27,000. Adirondack Trust Co. boosted its stake in shares of HubSpot by 58.8% in the second quarter. Adirondack Trust Co. now owns 135 shares of the software maker’s stock worth $32,000 after buying an additional 50 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of HubSpot in the second quarter worth about $64,000. Cullen Frost Bankers Inc. purchased a new stake in shares of HubSpot in the second quarter worth about $67,000. Finally, Private Advisor Group LLC purchased a new position in HubSpot during the second quarter worth approximately $79,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

About HubSpot

HubSpot, Inc provides a cloud-based marketing and sales software platform for businesses in the Americas, Europe, and the Asia Pacific. The company's software platform includes integrated applications, such as customer relationship management, search engine optimization, blogging, Website content management, messaging, chatbots, social media, marketing automation, email, predictive lead scoring, sales productivity, ticketing and helpdesk tools, customer NPS surveys, analytics, and reporting.

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