KeyCorp Brokers Reduce Earnings Estimates for HubSpot, Inc. (NYSE:HUBS)
HubSpot, Inc. (NYSE:HUBS – Get Rating) – Equities research analysts at KeyCorp lowered their Q2 2022 earnings per share (EPS) estimates for shares of HubSpot in a research note issued to investors on Tuesday, August 2nd. KeyCorp analyst M. Turits now anticipates that the software maker will post earnings per share of ($0.89) for the quarter, down from their prior forecast of ($0.87). KeyCorp has a “Overweight” rating and a $410.00 price objective on the stock. The consensus estimate for HubSpot’s current full-year earnings is ($1.87) per share. KeyCorp also issued estimates for HubSpot’s Q3 2022 earnings at ($0.66) EPS, Q4 2022 earnings at ($0.53) EPS, FY2022 earnings at ($2.26) EPS, Q1 2023 earnings at ($0.20) EPS, Q2 2023 earnings at ($0.94) EPS, Q3 2023 earnings at ($0.74) EPS, Q4 2023 earnings at ($0.53) EPS and FY2023 earnings at ($2.41) EPS.
Several other brokerages have also weighed in on HUBS. Cowen cut their target price on HubSpot from $750.00 to $700.00 in a research report on Thursday, April 21st. Oppenheimer reissued an “initiates” rating on shares of HubSpot in a research report on Wednesday, July 27th. Stifel Nicolaus cut their target price on HubSpot from $700.00 to $575.00 in a research report on Friday, May 6th. Mizuho cut their target price on HubSpot from $625.00 to $450.00 and set a “buy” rating on the stock in a research report on Friday, May 6th. Finally, UBS Group cut their target price on HubSpot from $390.00 to $325.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus target price of $559.00.
HubSpot Price Performance
HUBS stock opened at $355.46 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market capitalization of $16.98 billion, a P/E ratio of -259.46 and a beta of 1.61. The business’s 50-day moving average is $314.97 and its two-hundred day moving average is $396.61. HubSpot has a 1 year low of $257.21 and a 1 year high of $866.00.
HubSpot (NYSE:HUBS – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.17. The company had revenue of $395.60 million for the quarter, compared to analyst estimates of $383.05 million. HubSpot had a negative return on equity of 7.33% and a negative net margin of 4.52%. HubSpot’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS.
Institutional Trading of HubSpot
A number of institutional investors have recently modified their holdings of HUBS. Durable Capital Partners LP purchased a new stake in shares of HubSpot in the first quarter valued at approximately $283,913,000. Norges Bank purchased a new stake in shares of HubSpot in the fourth quarter valued at approximately $261,886,000. Clearbridge Investments LLC raised its holdings in HubSpot by 33.6% during the first quarter. Clearbridge Investments LLC now owns 1,128,424 shares of the software maker’s stock worth $535,934,000 after purchasing an additional 284,039 shares during the last quarter. TD Asset Management Inc. raised its holdings in HubSpot by 134.6% during the fourth quarter. TD Asset Management Inc. now owns 389,830 shares of the software maker’s stock worth $256,956,000 after purchasing an additional 223,682 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in HubSpot by 378.7% during the fourth quarter. Millennium Management LLC now owns 152,461 shares of the software maker’s stock worth $100,495,000 after purchasing an additional 120,612 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at HubSpot
In other HubSpot news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $279.20, for a total value of $2,373,200.00. Following the transaction, the insider now directly owns 675,066 shares in the company, valued at approximately $188,478,427.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HubSpot news, CTO Dharmesh Shah purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were purchased at an average cost of $340.08 per share, for a total transaction of $3,400,800.00. Following the completion of the purchase, the chief technology officer now directly owns 1,511,447 shares in the company, valued at $514,012,895.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $279.20, for a total value of $2,373,200.00. Following the completion of the sale, the insider now owns 675,066 shares in the company, valued at $188,478,427.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,500 shares of company stock worth $7,201,680. 5.60% of the stock is currently owned by insiders.
HubSpot Company Profile
HubSpot, Inc 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, sales, service, and content management systems, as well as integrated applications, such as search engine optimization, blogging, website content management, messaging, chatbots, social media, marketing automation, email, predictive lead scoring, sales productivity, knowledge base, commerce, conversation routing, video hosting, ticketing and helpdesk tools, customer NPS surveys, analytics, and reporting.
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