Sanford C. Bernstein Begins Coverage on HubSpot (NYSE:HUBS)

Analysts at Sanford C. Bernstein initiated coverage on shares of HubSpot (NYSE:HUBS) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “market perform” rating and a $693.00 price target on the software maker’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 14.57% from the stock’s previous close.

Several other brokerages have also weighed in on HUBS. BMO Capital Markets upped their target price on shares of HubSpot from $690.00 to $885.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Oppenheimer upped their target price on shares of HubSpot from $850.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Mizuho upped their target price on shares of HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on shares of HubSpot from $860.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada increased their price target on shares of HubSpot from $825.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $853.32.

HubSpot Stock Performance

Shares of NYSE:HUBS opened at $604.89 on Thursday. The company has a 50-day simple moving average of $715.33 and a 200-day simple moving average of $654.03. HubSpot has a one year low of $434.84 and a one year high of $881.13. The stock has a market capitalization of $31.55 billion, a price-to-earnings ratio of 6,721.75, a PEG ratio of 41.44 and a beta of 1.80.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. As a group, research analysts forecast that HubSpot will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 3,057 shares of HubSpot stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the sale, the chief executive officer now owns 54,079 shares of the company’s stock, valued at approximately $37,941,285.61. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorrie M. Norrington sold 572 shares of the stock in a transaction on Friday, December 27th. The shares were sold at an average price of $721.60, for a total transaction of $412,755.20. Following the completion of the transaction, the director now owns 1,125 shares of the company’s stock, valued at approximately $811,800. This represents a 33.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,425 shares of company stock worth $15,866,151 in the last ninety days. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of HubSpot during the fourth quarter worth approximately $420,345,000. Wellington Management Group LLP grew its holdings in HubSpot by 52.2% during the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after purchasing an additional 480,796 shares during the period. Raymond James Financial Inc. acquired a new position in shares of HubSpot in the fourth quarter valued at approximately $157,019,000. Wealthfront Advisers LLC boosted its holdings in shares of HubSpot by 3,090.2% in the fourth quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker’s stock valued at $93,049,000 after buying an additional 129,357 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of HubSpot in the fourth quarter valued at approximately $79,135,000. 90.39% of the stock is owned by institutional investors.

HubSpot Company Profile

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.