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 report sent to investors on Thursday, Benzinga reports.

A number of other equities analysts have also recently weighed in on HCP. TD Cowen upped their price target on HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a report on Wednesday, March 6th. KeyCorp began coverage on HashiCorp in a research note on Tuesday, March 19th. They set a sector weight rating for the company. Bank of America boosted their price objective on HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Piper Sandler reiterated a neutral rating and set a $25.00 price objective (up from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, JMP Securities reiterated a market outperform rating and set a $38.00 price objective on shares of HashiCorp in a research note on Thursday, March 7th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $30.77.

HashiCorp Trading Down 0.7 %

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

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

Insider Activity

In other news, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the sale, the director now directly owns 37,991 shares in the company, valued at $1,139,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now directly owns 62,844 shares in the company, valued at $1,571,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the transaction, the director now owns 37,991 shares in the company, valued at $1,139,730. The disclosure for this sale can be found here. Insiders sold 267,427 shares of company stock worth $6,728,242 over the last ninety days. Corporate insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of HashiCorp by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after acquiring an additional 999,671 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. raised its stake in shares of HashiCorp by 50.0% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after acquiring an additional 949,100 shares in the last quarter. First Trust Advisors LP raised its stake in shares of HashiCorp by 35.7% in the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after acquiring an additional 716,574 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of HashiCorp by 10.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock valued at $63,775,000 after acquiring an additional 254,720 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of HashiCorp by 16.2% in the fourth quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company’s stock valued at $49,934,000 after acquiring an additional 294,484 shares in the last quarter. 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.