Zacks Investment Research upgraded shares of HubSpot (NYSE:HUBS) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “HubSpot is a leading provider of inbound marketing and sales application over the cloud. The company’s revolutionary marketing and sales applications, expanding international footprint and significant scope in cross-selling sales products to its existing market customer base are driving growth. Management is positive about the performance of Hubspot One and Hubspot CRM tools. Further, HubSpot’s product portfolio is gaining from integration with Shopify and Facebook, which leverages artificial intelligence (AI). Moreover, the acquisitions of Motion AI and Kemvi reflect the company’s focus on integrating AI into its portfolio. We note that the stock has outperformed the industry over the past one year. However, the $50 per month marketing starter product and sales starter product hurt average subscription revenue (ASR) per customer, which is expected to continue in the near term.”
Several other equities research analysts also recently weighed in on HUBS. Morgan Stanley restated an equal weight rating and set a $96.00 price target (down previously from $99.00) on shares of HubSpot in a report on Tuesday, January 30th. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their price target on HubSpot from $95.00 to $102.00 and gave the stock an overweight rating in a report on Monday, February 12th. Stifel Nicolaus upped their price target on HubSpot from $88.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Needham & Company LLC upped their price target on HubSpot from $95.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Finally, UBS upped their price target on HubSpot from $103.00 to $105.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $94.82.
In other news, CEO Brian Halligan sold 22,500 shares of the company’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $118.09, for a total transaction of $2,657,025.00. Following the completion of the transaction, the chief executive officer now directly owns 754,598 shares of the company’s stock, valued at approximately $89,110,477.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Hunter Madeley sold 7,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $95.35, for a total value of $667,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,500 shares of company stock valued at $8,822,835. Insiders own 12.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HUBS. ETRADE Capital Management LLC acquired a new stake in shares of HubSpot in the 3rd quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of HubSpot by 35.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,326 shares of the software maker’s stock valued at $206,000 after purchasing an additional 606 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of HubSpot in the 4th quarter valued at about $216,000. Sciencast Management LP acquired a new stake in shares of HubSpot in the 4th quarter valued at about $219,000. Finally, Trexquant Investment LP acquired a new stake in shares of HubSpot in the 3rd quarter valued at about $222,000. 98.82% of the stock is owned by hedge funds and other institutional investors.
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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