BMO Capital Markets Cuts HubSpot (NYSE:HUBS) Price Target to $650.00

HubSpot (NYSE:HUBS) had its target price cut by equities researchers at BMO Capital Markets from $735.00 to $650.00 in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 22.73% from the company’s previous close.

A number of other brokerages have also recently commented on HUBS. Scotiabank reduced their target price on shares of HubSpot from $900.00 to $750.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 24th. Barclays reduced their target price on shares of HubSpot from $815.00 to $745.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Mizuho reduced their target price on shares of HubSpot from $900.00 to $700.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Oppenheimer raised their price objective on shares of HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Finally, Citigroup raised their price objective on shares of HubSpot from $750.00 to $759.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and a consensus target price of $761.54.

HubSpot Stock Performance

Shares of NYSE HUBS traded up $1.03 during mid-day trading on Friday, reaching $529.63. The company’s stock had a trading volume of 27,824 shares, compared to its average volume of 606,731. The stock has a 50-day moving average of $582.17 and a two-hundred day moving average of $633.40. The stock has a market capitalization of $27.93 billion, a P/E ratio of -1,175.98, a P/E/G ratio of 20.13 and a beta of 1.66. HubSpot has a 1-year low of $434.84 and a 1-year high of $881.13.

Insider Activity

In other news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This trade represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total value of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares in the company, valued at approximately $283,718,775.45. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,678 shares of company stock valued at $11,336,616 over the last three months. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Hedge funds have recently modified their holdings of the company. Elequin Capital LP acquired a new position in shares of HubSpot in the 4th quarter valued at about $27,000. Coppell Advisory Solutions LLC lifted its stake in shares of HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock valued at $32,000 after purchasing an additional 22 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in shares of HubSpot by 213.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock valued at $33,000 after purchasing an additional 32 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock valued at $34,000 after purchasing an additional 34 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of HubSpot in the 1st quarter valued at about $35,000. Institutional investors and hedge funds 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.