Morgan Stanley Increases HubSpot (HUBS) Price Target to $146.00

HubSpot (NYSE:HUBS) had its price target lifted by equities research analysts at Morgan Stanley from $141.00 to $146.00 in a research report issued to clients and investors on Thursday. The firm presently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s target price points to a potential upside of 7.88% from the company’s previous close.

HUBS has been the subject of a number of other reports. UBS Group reiterated a “buy” rating on shares of HubSpot in a research report on Tuesday, August 7th. Rosenblatt Securities started coverage on shares of HubSpot in a research report on Thursday, October 4th. They issued a “buy” rating and a $170.00 target price for the company. Zacks Investment Research upgraded shares of 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. Jefferies Financial Group started coverage on shares of HubSpot in a research report on Tuesday, October 2nd. They set a “buy” rating and a $182.00 price objective for the company. Finally, Raymond James raised their price objective on shares of HubSpot from $124.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. HubSpot presently has an average rating of “Buy” and an average target price of $147.07.

Shares of NYSE HUBS opened at $135.34 on Thursday. The stock has a market capitalization of $5.59 billion, a PE ratio of -132.69 and a beta of 1.92. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.35. HubSpot has a 52 week low of $73.15 and a 52 week high of $162.20.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, November 7th. The software maker reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.37). The business had revenue of $131.83 million during the quarter, compared to analyst estimates of $126.65 million. HubSpot had a negative net margin of 13.43% and a negative return on equity of 19.34%. HubSpot’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, equities research analysts predict that HubSpot will post -1.09 EPS for the current fiscal year.

In related news, insider Dharmesh Shah sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $125.59, for a total transaction of $3,767,700.00. Following the completion of the sale, the insider now directly owns 1,596,983 shares in the company, valued at $200,565,094.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel John P. Kelleher sold 3,815 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $130.00, for a total transaction of $495,950.00. Following the sale, the general counsel now owns 40,548 shares of the company’s stock, valued at $5,271,240. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,680 shares of company stock valued at $17,154,954. 9.60% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its stake in HubSpot by 4.0% during the second quarter. Raymond James & Associates now owns 20,444 shares of the software maker’s stock worth $2,564,000 after buying an additional 782 shares during the period. Rothschild Asset Management Inc. purchased a new position in HubSpot during the second quarter worth about $1,907,000. Raymond James Financial Services Advisors Inc. purchased a new position in HubSpot during the second quarter worth about $1,960,000. PNC Financial Services Group Inc. boosted its stake in HubSpot by 18.4% during the second quarter. PNC Financial Services Group Inc. now owns 24,890 shares of the software maker’s stock worth $3,121,000 after buying an additional 3,875 shares during the period. Finally, Voya Investment Management LLC boosted its stake in HubSpot by 1,365.6% during the second quarter. Voya Investment Management LLC now owns 221,971 shares of the software maker’s stock worth $27,836,000 after buying an additional 206,826 shares during the period. 96.36% of the stock is owned by institutional investors.

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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