HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP - Free Report) in a research note published on Monday. The firm issued a hold rating on the stock.

HCP has been the topic of a number of other reports. Piper Sandler reissued a "neutral" rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.08.

HashiCorp Stock Performance

HashiCorp stock traded up $0.02 during midday trading on Monday, reaching $34.08. 866,758 shares of the company were exchanged, compared to its average volume of 3,062,365. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -45.44 and a beta of 1.24. The firm's 50-day simple moving average is $33.86 and its 200-day simple moving average is $33.60. HashiCorp has a 1 year low of $19.26 and a 1 year high of $34.21.

HashiCorp (NASDAQ:HCP - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analysts' expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS. On average, analysts forecast that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 35,904 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at approximately $51,467,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at approximately $51,467,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 371,209 shares of company stock valued at $12,559,456. Corporate insiders own 22.49% of the company's stock.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently bought and sold shares of HCP. American Capital Advisory LLC bought a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $51,000. Advisors Asset Management Inc. increased its holdings in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company's stock valued at $86,000 after acquiring an additional 961 shares during the last quarter. Covestor Ltd increased its holdings in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company's stock valued at $95,000 after acquiring an additional 3,480 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company's stock valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.