StockNews.com Upgrades HashiCorp (NASDAQ:HCP) to Hold

HashiCorp (NASDAQ:HCP) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other equities research analysts also recently issued reports on HCP. Bank of America boosted their target price on shares of HashiCorp from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Citigroup boosted their price objective on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. TD Cowen raised their target price on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. BTIG Research lifted their target price on shares of HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus increased their price target on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.77.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $23.53 on Tuesday. The firm’s 50-day moving average is $25.51 and its two-hundred day moving average is $23.17. The company has a market capitalization of $4.70 billion, a PE ratio of -24.01 and a beta of 1.42. HashiCorp has a 12-month low of $18.91 and a 12-month high of $36.39.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. On average, analysts forecast that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Activity

In other news, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.95, for a total value of $54,875.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at $1,379,425.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $24.99, for a total transaction of $347,760.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.95, for a total value of $54,875.00. Following the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at $1,379,425.80. The disclosure for this sale can be found here. Insiders have sold 262,577 shares of company stock worth $6,484,004 over the last 90 days. 26.13% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

A number of institutional investors have recently added to or reduced their stakes in HCP. JPMorgan Chase & Co. raised its holdings in HashiCorp by 48.0% in the 1st quarter. JPMorgan Chase & Co. now owns 11,204,309 shares of the company’s stock worth $328,175,000 after acquiring an additional 3,635,247 shares during the period. BlackRock Inc. increased its stake in shares of HashiCorp by 215.0% in the second quarter. BlackRock Inc. now owns 4,426,683 shares of the company’s stock worth $115,891,000 after purchasing an additional 3,021,230 shares during the period. TimesSquare Capital Management LLC acquired a new position in shares of HashiCorp during the 3rd quarter worth about $55,774,000. Price T Rowe Associates Inc. MD boosted its stake in HashiCorp by 26.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,435,341 shares of the company’s stock valued at $312,642,000 after purchasing an additional 2,368,102 shares during the period. Finally, Vanguard Group Inc. grew its holdings in HashiCorp by 78.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,187,233 shares of the company’s stock valued at $102,597,000 after buying an additional 1,400,042 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.