HubSpot (NYSE:HUBS) Given New $850.00 Price Target at Bank of America

HubSpot (NYSE:HUBS - Get Free Report) had its price objective boosted by equities researchers at Bank of America from $780.00 to $850.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Bank of America's price objective points to a potential upside of 13.80% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of HubSpot from $560.00 to $635.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on HubSpot from $626.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on HubSpot from $600.00 to $710.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets upped their price target on HubSpot from $570.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $702.23.

HubSpot Stock Performance

Shares of HUBS traded up $25.05 during midday trading on Monday, hitting $746.91. 454,437 shares of the stock were exchanged, compared to its average volume of 586,334. HubSpot has a 52-week low of $434.84 and a 52-week high of $762.47. The stock has a fifty day simple moving average of $642.28 and a 200 day simple moving average of $565.10. The firm has a market cap of $38.56 billion, a P/E ratio of -2,766.33, a P/E/G ratio of 88.26 and a beta of 1.70.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, beating 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 business had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The business's revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts forecast that HubSpot will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 1,507 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total value of $792,440.88. Following the sale, the chief executive officer now owns 62,668 shares in the company, valued at $32,953,341.12. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,390 shares of company stock worth $29,126,596 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HubSpot

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas acquired a new stake in HubSpot in the 3rd quarter valued at about $740,000. Wilmington Savings Fund Society FSB bought a new position in shares of HubSpot in the third quarter valued at $25,000. Coldstream Capital Management Inc. boosted its stake in shares of HubSpot by 40.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 783 shares of the software maker's stock worth $433,000 after acquiring an additional 227 shares in the last quarter. Synergy Financial Group LTD grew its holdings in shares of HubSpot by 14.2% in the 3rd quarter. Synergy Financial Group LTD now owns 933 shares of the software maker's stock worth $496,000 after acquiring an additional 116 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of HubSpot by 2.5% during the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker's stock worth $435,184,000 after purchasing an additional 19,974 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.