HashiCorp, Inc. (NASDAQ:HCP) Receives $31.17 Average Price Target from Brokerages

HashiCorp, Inc. (NASDAQ:HCP) has earned an average rating of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $32.08.

HCP has been the topic of a number of research reports. StockNews.com initiated coverage on HashiCorp in a research note on Saturday, August 31st. They issued a “hold” rating on the stock. Citigroup initiated coverage on HashiCorp in a research note on Tuesday. They issued a “neutral” rating and a $35.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th.

HashiCorp Stock Performance

Shares of HCP opened at $33.84 on Friday. The business’s fifty day simple moving average is $33.67 and its two-hundred day simple moving average is $30.88. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.05. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.34) EPS. As a group, research analysts forecast that HashiCorp will post -0.82 EPS for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total transaction of $32,760.00. Following the sale, the director now directly owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other HashiCorp news, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total transaction of $32,760.00. Following the sale, the director now directly owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the sale, the chief financial officer now directly owns 88,322 shares in the company, valued at $2,991,466.14. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock valued at $13,639,660 over the last ninety days. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of HashiCorp by 11.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after purchasing an additional 63,879 shares during the last quarter. TimesSquare Capital Management LLC grew its position in HashiCorp by 10.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after acquiring an additional 254,720 shares in the last quarter. Swiss National Bank grew its position in HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after acquiring an additional 23,400 shares in the last quarter. Contour Asset Management LLC purchased a new position in HashiCorp in the fourth quarter worth about $21,217,000. Finally, GGV Capital LLC grew its position in HashiCorp by 4.6% in the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after acquiring an additional 29,064 shares in the last quarter. 87.83% of the stock is 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.