HashiCorp’s (HCP) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a report published on Monday, Benzinga reports.

Several other equities research analysts have also recently issued reports on HCP. StockNews.com started coverage on HashiCorp in a research note on Thursday, September 12th. They issued a hold rating for the company. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They set a neutral rating and a $35.00 target price on the stock. Finally, Piper Sandler restated a neutral rating and issued a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $32.08.

HashiCorp Price Performance

HCP stock opened at $33.92 on Monday. The business’s fifty day moving average price is $33.72 and its two-hundred day moving average price is $31.57. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -35.33 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. HashiCorp’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) earnings per share. Research analysts expect that HashiCorp will post -0.59 EPS for the current year.

Insider Transactions at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the sale, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $147,638.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,794 shares of company stock valued at $9,650,892. 22.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HashiCorp

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in HashiCorp by 28.8% during the 4th quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock worth $322,000 after buying an additional 3,046 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of HashiCorp by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after acquiring an additional 63,879 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of HashiCorp by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock worth $24,799,000 after acquiring an additional 92,586 shares during the period. ING Groep NV bought a new stake in HashiCorp in the fourth quarter valued at approximately $1,336,000. Finally, Trexquant Investment LP bought a new stake in HashiCorp in the fourth quarter valued at approximately $3,158,000. 87.83% of the stock is owned by institutional investors.

About HashiCorp

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.