Needham & Company LLC Boosts HubSpot (HUBS) Price Target to $160.00

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HubSpot (NYSE:HUBS) had its price target hoisted by equities research analysts at Needham & Company LLC to $160.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 12.48% from the company’s current price.

Other analysts have also issued research reports about the company. Stifel Nicolaus raised their target price on HubSpot from $122.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, June 14th. Zacks Investment Research upgraded HubSpot from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Thursday, August 2nd. UBS Group reiterated an “outperform” rating and issued a $150.00 price objective (up previously from $132.00) on shares of HubSpot in a research report on Thursday. Raymond James raised their price objective on HubSpot from $124.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Finally, Canaccord Genuity raised their price objective on HubSpot from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 11th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $124.80.

Shares of HUBS stock opened at $142.25 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.26 and a quick ratio of 3.26. The stock has a market capitalization of $5.57 billion, a P/E ratio of -139.46 and a beta of 1.95. HubSpot has a twelve month low of $71.00 and a twelve month high of $146.10.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 1st. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.02. The business had revenue of $122.60 million during the quarter, compared to analysts’ expectations of $117.75 million. HubSpot had a negative return on equity of 17.00% and a negative net margin of 12.64%. The company’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. analysts expect that HubSpot will post -1.1 EPS for the current year.

In related news, insider J Donald Sherman sold 25,000 shares of the stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $134.52, for a total transaction of $3,363,000.00. Following the transaction, the insider now owns 119,823 shares in the company, valued at $16,118,589.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dharmesh Shah sold 29,000 shares of the stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $124.87, for a total transaction of $3,621,230.00. Following the transaction, the insider now owns 1,636,398 shares in the company, valued at approximately $204,337,018.26. The disclosure for this sale can be found here. Insiders have sold 126,834 shares of company stock worth $16,576,223 in the last quarter. 9.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its position in HubSpot by 7.1% during the second quarter. First Trust Advisors LP now owns 1,079,990 shares of the software maker’s stock valued at $135,431,000 after purchasing an additional 71,931 shares during the period. Scge Management L.P. lifted its position in HubSpot by 25.2% during the second quarter. Scge Management L.P. now owns 795,650 shares of the software maker’s stock valued at $99,775,000 after purchasing an additional 160,200 shares during the period. Lord Abbett & CO. LLC lifted its position in HubSpot by 28.4% during the first quarter. Lord Abbett & CO. LLC now owns 719,878 shares of the software maker’s stock valued at $77,963,000 after purchasing an additional 159,065 shares during the period. JPMorgan Chase & Co. lifted its position in HubSpot by 18.3% during the first quarter. JPMorgan Chase & Co. now owns 621,163 shares of the software maker’s stock valued at $67,272,000 after purchasing an additional 95,998 shares during the period. Finally, Wasatch Advisors Inc. lifted its position in HubSpot by 22.6% during the second quarter. Wasatch Advisors Inc. now owns 598,249 shares of the software maker’s stock valued at $75,020,000 after purchasing an additional 110,198 shares during the period. Institutional investors own 96.39% of the company’s stock.

About HubSpot

HubSpot, Inc provides a cloud-based marketing and sales software platform for businesses in the Americas, Europe, and the Asia Pacific. Its software platform includes integrated applications, such as social media, search engine optimization, blogging, Website content management, marketing automation, email, sales productivity, CRM, analytics, and reporting.

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