Bank of America Issues Pessimistic Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its price target reduced by equities research analysts at Bank of America from $640.00 to $515.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Bank of America‘s price objective indicates a potential upside of 10.81% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of HubSpot in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $685.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of HubSpot in a research report on Tuesday, October 14th. Mizuho dropped their price target on shares of HubSpot from $700.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday. Macquarie dropped their price target on shares of HubSpot from $730.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Finally, KeyCorp dropped their price target on shares of HubSpot from $860.00 to $775.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $683.39.

HubSpot Price Performance

HUBS stock opened at $464.76 on Thursday. HubSpot has a one year low of $418.34 and a one year high of $881.13. The stock has a market cap of $24.49 billion, a PE ratio of -2,020.70, a P/E/G ratio of 16.31 and a beta of 1.60. The firm has a 50 day simple moving average of $478.42 and a two-hundred day simple moving average of $529.75.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.07. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The company had revenue of $760.87 million during the quarter, compared to analysts’ expectations of $739.94 million. During the same quarter in the prior year, the company earned $1.94 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. On average, research analysts expect that HubSpot will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at HubSpot

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the completion of the sale, the director directly owned 522,435 shares in the company, valued at approximately $235,012,160.40. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $500.00, for a total transaction of $307,500.00. Following the sale, the chief financial officer owned 38,794 shares of the company’s stock, valued at approximately $19,397,000. This represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 51,098 shares of company stock valued at $24,757,257 in the last quarter. 4.00% of the stock is owned by insiders.

Institutional Trading of HubSpot

A number of institutional investors and hedge funds have recently bought and sold shares of HUBS. Goodman Advisory Group LLC bought a new stake in shares of HubSpot in the second quarter worth approximately $27,000. Whittier Trust Co. grew its stake in shares of HubSpot by 136.4% in the second quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after acquiring an additional 30 shares during the period. Exane Asset Management bought a new stake in shares of HubSpot in the third quarter worth approximately $30,000. Rakuten Securities Inc. grew its stake in shares of HubSpot by 783.3% in the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock worth $30,000 after acquiring an additional 47 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of HubSpot in the second quarter worth approximately $32,000. 90.39% of the stock is currently owned by institutional investors.

HubSpot Company Profile

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.