HubSpot (NYSE:HUBS) Price Target Cut to $659.00 by Analysts at Morgan Stanley

HubSpot (NYSE:HUBS) had its price objective cut by analysts at Morgan Stanley from $898.00 to $659.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s price target would indicate a potential upside of 22.27% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Redburn Atlantic initiated coverage on HubSpot in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Wells Fargo & Company boosted their price target on HubSpot from $835.00 to $940.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their price target on HubSpot from $880.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, February 13th. TD Cowen lowered shares of HubSpot from a “buy” rating to a “hold” rating and increased their target price for the company from $680.00 to $725.00 in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of HubSpot from $635.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $818.04.

HubSpot Price Performance

Shares of HUBS opened at $538.98 on Wednesday. HubSpot has a 12 month low of $434.84 and a 12 month high of $881.13. The stock has a fifty day moving average price of $632.79 and a 200 day moving average price of $659.01. The company has a market cap of $28.11 billion, a P/E ratio of 5,989.35, a PEG ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. As a group, research analysts anticipate that HubSpot will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Yamini Rangan sold 2,382 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the sale, the chief executive officer now directly owns 72,373 shares of the company’s stock, valued at $41,536,312.16. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the sale, the insider now owns 527,233 shares of the company’s stock, valued at approximately $320,283,502.84. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,882 shares of company stock valued at $17,993,757. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of HubSpot during the third quarter worth $25,000. Elequin Capital LP acquired a new position in HubSpot in the 4th quarter worth about $27,000. Larson Financial Group LLC raised its stake in shares of HubSpot by 168.8% during the 4th quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock worth $30,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of HubSpot by 73.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock valued at $31,000 after buying an additional 19 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its stake in shares of HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock valued at $32,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Company Profile

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.