The Goldman Sachs Group Forecasts Strong Price Appreciation for HubSpot (NYSE:HUBS) Stock

HubSpot (NYSE:HUBS - Free Report) had its price target lifted by The Goldman Sachs Group from $626.00 to $690.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the software maker's stock.

Several other brokerages also recently issued reports on HUBS. Truist Financial restated a "buy" rating and issued a $600.00 price objective (down previously from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Citigroup cut their price objective on shares of HubSpot from $699.00 to $629.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Canaccord Genuity Group reduced their target price on shares of HubSpot from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price target on HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, BMO Capital Markets raised their price objective on HubSpot from $570.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $648.46.

HubSpot Stock Performance

Shares of NYSE HUBS traded up $45.95 during mid-day trading on Thursday, reaching $643.74. 1,523,273 shares of the company traded hands, compared to its average volume of 592,060. The company's fifty day moving average is $529.41 and its two-hundred day moving average is $545.99. HubSpot has a fifty-two week low of $413.07 and a fifty-two week high of $693.85. The stock has a market cap of $33.06 billion, a PE ratio of -1,213.37, a price-to-earnings-growth ratio of 7,506.16 and a beta of 1.63.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.30. The business had revenue of $637.20 million for the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. HubSpot's revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted ($1.17) EPS.

Insiders Place Their Bets

In other news, CFO Kathryn Bueker sold 1,804 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $550.00, for a total value of $992,200.00. Following the completion of the transaction, the chief financial officer now owns 41,259 shares in the company, valued at $22,692,450. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kathryn Bueker sold 1,804 shares of the firm's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the transaction, the chief financial officer now directly owns 41,259 shares of the company's stock, valued at $22,692,450. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 1,507 shares of HubSpot stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $792,440.88. Following the completion of the sale, the chief executive officer now owns 62,668 shares in the company, valued at $32,953,341.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,937 shares of company stock worth $3,194,673. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of HubSpot

Several institutional investors and hedge funds have recently bought and sold shares of HUBS. Aviso Wealth Management raised its stake in shares of HubSpot by 26.3% during the 3rd quarter. Aviso Wealth Management now owns 1,762 shares of the software maker's stock worth $936,000 after purchasing an additional 367 shares in the last quarter. Quest Partners LLC raised its position in HubSpot by 125.6% during the third quarter. Quest Partners LLC now owns 871 shares of the software maker's stock worth $463,000 after acquiring an additional 485 shares in the last quarter. Swiss National Bank raised its position in HubSpot by 0.8% during the third quarter. Swiss National Bank now owns 143,700 shares of the software maker's stock worth $76,391,000 after acquiring an additional 1,100 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in HubSpot by 10.8% in the third quarter. Thrivent Financial for Lutherans now owns 33,559 shares of the software maker's stock valued at $17,840,000 after acquiring an additional 3,270 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of HubSpot by 5.2% in the 3rd quarter. CIBC Asset Management Inc now owns 1,890 shares of the software maker's stock valued at $1,005,000 after acquiring an additional 93 shares during the period. Institutional investors own 90.39% of the company's stock.

About HubSpot

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.