HubSpot, Inc. (NYSE:HUBS)‘s stock had its “buy” rating reaffirmed by equities researchers at UBS AG in a research note issued on Thursday. They currently have a $93.00 price objective on the software maker’s stock. UBS AG’s price target points to a potential upside of 7.45% from the company’s previous close.
The analysts wrote, “Consistent with our preview, HubSpot’s 3Q results were impressive, with upside to billings, 35%+ growth across leading business indicators, and management raising 2017 guidance; which support that the business is taking share of mid-market engagement technology spend. On balance, a shifting product mix will likely make ARPU trends lumpy, which may take time for investors to gain comfort with. Bottom line: 3Q results are another data point that HubSpot’s differentiation moat versus the competition is increasing in the mid-market, and the ~37% billings growth YTD lays a solid foundation for growth in 2018, giving us an upward bias to consensus estimates. HubSpot’s streak of improving business fundamentals in upcoming quarterly results is likely to continue.””
A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of HubSpot from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, July 20th. Zacks Investment Research raised shares of HubSpot from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, October 3rd. Evercore ISI started coverage on shares of HubSpot in a research note on Friday, September 8th. They issued an “outperform” rating and a $90.00 price target on the stock. TheStreet raised shares of HubSpot from a “d” rating to a “c-” rating in a research note on Monday, October 9th. Finally, Summit Redstone reissued a “hold” rating on shares of HubSpot in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $81.83.
HubSpot (NYSE:HUBS) last released its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.15. HubSpot had a negative net margin of 13.17% and a negative return on equity of 27.99%. The firm had revenue of $97.73 million for the quarter, compared to analysts’ expectations of $96.50 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 38.4% compared to the same quarter last year.
In other news, insider Hunter Madeley sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $72.80, for a total transaction of $72,800.00. Following the transaction, the insider now owns 66,887 shares of the company’s stock, valued at approximately $4,869,373.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John Kinzer sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $67.23, for a total transaction of $1,008,450.00. Following the transaction, the chief financial officer now directly owns 92,380 shares in the company, valued at approximately $6,210,707.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,000 shares of company stock worth $3,425,100. Corporate insiders own 12.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of HubSpot by 1.1% during the 2nd quarter. FMR LLC now owns 5,481,280 shares of the software maker’s stock valued at $360,394,000 after acquiring an additional 59,473 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of HubSpot by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,626,896 shares of the software maker’s stock valued at $172,718,000 after acquiring an additional 97,869 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of HubSpot by 145.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,366,568 shares of the software maker’s stock valued at $155,602,000 after acquiring an additional 1,400,677 shares during the last quarter. BlackRock Inc. boosted its position in shares of HubSpot by 82,588.5% during the 1st quarter. BlackRock Inc. now owns 2,130,883 shares of the software maker’s stock valued at $129,025,000 after acquiring an additional 2,128,306 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of HubSpot by 3.5% during the 3rd quarter. First Trust Advisors LP now owns 892,071 shares of the software maker’s stock valued at $74,979,000 after acquiring an additional 30,290 shares during the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.
HubSpot Company Profile
HubSpot, Inc (HubSpot) provides a cloud-based marketing and sales software platform. The Company’s software platform features integrated applications to help businesses attract visitors to their Websites, convert visitors into leads, close leads into customers and delight customers so that they become promoters of those businesses.
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