Analysts Set HashiCorp, Inc. (NASDAQ:HCP) Target Price at $31.17

HashiCorp, Inc. (NASDAQ:HCP) has been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $31.17.

Several equities research analysts have recently issued reports on HCP shares. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Piper Sandler raised their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. William Blair lowered HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. Finally, Bank of America lifted their price objective on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th.

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $33.34, for a total transaction of $1,197,039.36. Following the completion of the sale, the chief technology officer now owns 1,553,452 shares in the company, valued at approximately $51,792,089.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $33.34, for a total value of $1,197,039.36. Following the completion of the sale, the chief technology officer now owns 1,553,452 shares in the company, valued at approximately $51,792,089.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sigal Zarmi sold 975 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the completion of the sale, the director now owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 392,820 shares of company stock worth $13,143,824. 22.49% of the stock is currently owned by insiders.

Institutional Trading of HashiCorp

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after purchasing an additional 63,879 shares during the period. TimesSquare Capital Management LLC increased its stake in HashiCorp by 10.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after purchasing an additional 254,720 shares during the period. Swiss National Bank increased its stake in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after purchasing an additional 23,400 shares during the period. Contour Asset Management LLC purchased a new position in HashiCorp in the 4th quarter worth approximately $21,217,000. Finally, GGV Capital LLC increased its stake in HashiCorp by 4.6% in the 4th quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after purchasing an additional 29,064 shares during the period. Institutional investors own 87.83% of the company’s stock.

HashiCorp Trading Down 0.1 %

Shares of NASDAQ:HCP opened at $33.65 on Tuesday. The stock’s fifty day simple moving average is $33.60 and its two-hundred day simple moving average is $29.62. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.05. The stock has a market cap of $6.77 billion, a PE ratio of -35.05 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The firm had revenue of $160.58 million during the quarter, compared to analyst estimates of $153.39 million. On average, sell-side analysts forecast that HashiCorp will post -0.8 earnings per share for the current fiscal year.

About HashiCorp

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.