HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCPFree Report) in a research report report published on Tuesday. The firm issued a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. BTIG Research downgraded shares of HashiCorp from a buy rating to a neutral rating in a research report on Wednesday, April 24th. Piper Sandler upped their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. TD Cowen upped their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a research report on Wednesday, March 6th. Truist Financial reiterated a hold rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Finally, Oppenheimer reissued an outperform rating and set a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $30.77.

Read Our Latest Stock Analysis on HCP

HashiCorp Price Performance

NASDAQ HCP opened at $33.30 on Tuesday. The company has a market capitalization of $6.64 billion, a PE ratio of -33.98 and a beta of 1.25. The company has a fifty day moving average of $28.76 and a 200 day moving average of $24.94. HashiCorp has a 1 year low of $18.91 and a 1 year high of $36.39.

HashiCorp (NASDAQ:HCPGet Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The company had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. Research analysts expect that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity

In other news, Director Sigal Zarmi sold 4,350 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the sale, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the transaction, the director now directly owns 37,991 shares in the company, valued at approximately $1,139,730. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Navam Welihinda sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.84, for a total transaction of $54,600.00. Following the completion of the transaction, the chief financial officer now owns 62,844 shares in the company, valued at $1,372,512.96. The disclosure for this sale can be found here. Insiders sold a total of 248,511 shares of company stock valued at $6,603,750 in the last 90 days. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. increased its position in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd increased its position in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the last quarter. Industry Ventures L.L.C. purchased a new stake in shares of HashiCorp in the 4th quarter valued at approximately $157,000. Finally, Victory Capital Management Inc. grew its position in shares of HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after buying an additional 2,768 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

About HashiCorp

(Get Free Report)

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.

See Also

Analyst Recommendations for HashiCorp (NASDAQ:HCP)

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