HashiCorp, Inc. (NASDAQ:HCP) Receives $32.08 Average Price Target from Analysts

HashiCorp, Inc. (NASDAQ:HCP) has been given a consensus rating of “Hold” by the fourteen brokerages that are covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $32.08.

Several research analysts recently weighed in on HCP shares. Citigroup assumed coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. StockNews.com started coverage on shares of HashiCorp in a research report on Sunday. They set a “hold” rating on the stock. Piper Sandler restated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th.

HashiCorp Stock Performance

HCP opened at $33.60 on Thursday. The company has a fifty day moving average price of $33.88 and a two-hundred day moving average price of $33.65. The firm has a market capitalization of $6.82 billion, a PE ratio of -44.99 and a beta of 1.24. HashiCorp has a 52 week low of $19.26 and a 52 week high of $34.21.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the previous year, the firm earned ($0.34) earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that HashiCorp will post -0.48 EPS for the current year.

Insider Transactions at HashiCorp

In other news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares in the company, valued at $2,991,466.14. This represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.85, for a total value of $1,215,350.40. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,452,000. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,209 shares of company stock valued at $12,559,456 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in HashiCorp in the third quarter valued at $2,400,000. Geode Capital Management LLC grew its holdings in HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the period. Public Employees Retirement System of Ohio raised its stake in HashiCorp by 39.7% in the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after buying an additional 14,555 shares during the period. K2 Principal Fund L.P. lifted its position in shares of HashiCorp by 34.0% in the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after buying an additional 29,901 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after acquiring an additional 282,965 shares during the period. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Company Profile

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.