HubSpot (NYSE:HUBS) Shares Up 6.2% Following Analyst Upgrade

HubSpot, Inc. (NYSE:HUBS - Get Free Report)'s share price shot up 6.2% during trading on Monday after Barclays raised their price target on the stock from $650.00 to $725.00. Barclays currently has an equal weight rating on the stock. HubSpot traded as high as $762.00 and last traded at $772.00. 133,251 shares traded hands during trading, a decline of 61% from the average session volume of 338,936 shares. The stock had previously closed at $726.61.

Several other research analysts have also recently issued reports on the company. Mizuho increased their price target on HubSpot from $725.00 to $775.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. BMO Capital Markets raised their target price on shares of HubSpot from $570.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of HubSpot from $750.00 to $810.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Truist Financial reiterated a "buy" rating and set a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Finally, Stifel Nicolaus upped their target price on HubSpot from $750.00 to $880.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, HubSpot has an average rating of "Moderate Buy" and a consensus target price of $724.52.

Insiders Place Their Bets

In related news, CEO Yamini Rangan sold 115 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the transaction, the chief executive officer now directly owns 61,179 shares of the company's stock, valued at approximately $43,668,958.41. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dawson Alyssa Harvey sold 573 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total transaction of $401,100.00. Following the completion of the sale, the insider now owns 7,603 shares of the company's stock, valued at approximately $5,322,100. The trade was a 7.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,066 shares of company stock worth $54,900,427. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On HubSpot

A number of hedge funds have recently modified their holdings of HUBS. Wellington Management Group LLP lifted its stake in HubSpot by 52.2% in the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker's stock valued at $745,410,000 after acquiring an additional 480,796 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of HubSpot by 214,342.4% in the 3rd quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker's stock valued at $672,590,000 after purchasing an additional 126,462 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in HubSpot by 17.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker's stock worth $303,689,000 after purchasing an additional 86,688 shares in the last quarter. TimesSquare Capital Management LLC increased its position in HubSpot by 49.5% during the third quarter. TimesSquare Capital Management LLC now owns 207,842 shares of the software maker's stock worth $110,489,000 after buying an additional 68,827 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in HubSpot by 191.6% during the third quarter. Two Sigma Advisers LP now owns 72,900 shares of the software maker's stock valued at $38,754,000 after buying an additional 47,900 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Stock Up 4.3 %

The company has a market cap of $39.13 billion, a price-to-earnings ratio of -2,807.26, a PEG ratio of 40.57 and a beta of 1.70. The business has a 50-day simple moving average of $716.86 and a two-hundred day simple moving average of $591.70.

HubSpot (NYSE:HUBS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm had revenue of $669.72 million during the quarter, compared to analysts' expectations of $646.97 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company's revenue was up 20.1% on a year-over-year basis. As a group, equities analysts anticipate that HubSpot, Inc. will post 0.42 earnings per share for the current year.

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.