HubSpot (NYSE:HUBS) Downgraded to “Hold” Rating by TD Cowen

TD Cowen cut shares of HubSpot (NYSE:HUBS) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat.com reports. They currently have $725.00 price target on the software maker’s stock, up from their previous price target of $680.00.

HUBS has been the subject of a number of other research reports. Truist Financial restated a “buy” rating and issued a $750.00 price target (up previously from $600.00) on shares of HubSpot in a research report on Friday, November 8th. Stifel Nicolaus lifted their target price on shares of HubSpot from $750.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group increased their price target on shares of HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank upped their price objective on HubSpot from $700.00 to $825.00 and gave the company a “sector outperform” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets boosted their target price on shares of HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $721.26.

HubSpot Price Performance

HUBS opened at $704.08 on Friday. HubSpot has a 12 month low of $434.84 and a 12 month high of $762.47. The stock has a market capitalization of $36.34 billion, a P/E ratio of -2,607.59, a P/E/G ratio of 41.24 and a beta of 1.70. The business has a 50 day simple moving average of $713.49 and a 200-day simple moving average of $586.04.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping the consensus estimate of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The company had revenue of $669.72 million for the quarter, compared to analyst estimates of $646.97 million. During the same period in the previous year, the firm earned ($0.04) EPS. The business’s revenue was up 20.1% on a year-over-year basis. Research analysts anticipate that HubSpot will post 0.42 EPS for the current year.

Insider Activity

In related news, CEO Yamini Rangan sold 115 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $713.79, for a total value of $82,085.85. Following the completion of the transaction, the chief executive officer now owns 61,179 shares of the company’s stock, valued at approximately $43,668,958.41. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total value of $16,815,500.00. Following the sale, the chief technology officer now owns 1,323,145 shares in the company, valued at $889,973,789.90. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,066 shares of company stock worth $54,900,427 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

A number of hedge funds and other institutional investors have recently made changes to their positions in HUBS. Wellington Management Group LLP increased its position in shares of HubSpot by 52.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock worth $745,410,000 after purchasing an additional 480,796 shares during the last quarter. Geode Capital Management LLC increased its holdings in HubSpot by 2.5% in the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after buying an additional 19,974 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in HubSpot by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock valued at $303,689,000 after buying an additional 86,688 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after buying an additional 40,138 shares during the last quarter. Finally, Holocene Advisors LP grew its position in shares of HubSpot by 17.5% in the 3rd quarter. Holocene Advisors LP now owns 319,767 shares of the software maker’s stock worth $169,988,000 after acquiring an additional 47,736 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

About HubSpot

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.