HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

by · The Cerbat Gem

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP – Free Report) in a report issued on Wednesday. The firm issued a hold rating on the stock.

A number of other brokerages have also commented on HCP. Oppenheimer reiterated an outperform rating and issued a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. JMP Securities reiterated a market perform rating on shares of HashiCorp in a research note on Thursday, June 6th. Piper Sandler boosted their price target on HashiCorp from $25.00 to $35.00 and gave the company a neutral rating in a research note on Thursday, April 25th. Needham & Company LLC reiterated a hold rating on shares of HashiCorp in a research report on Thursday, April 25th. Finally, Truist Financial reissued a hold rating and issued a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, HashiCorp presently has a consensus rating of Hold and a consensus price target of $31.17.

View Our Latest Research Report on HCP

HashiCorp Stock Up 0.6 %

HCP opened at $33.69 on Wednesday. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.05. The business has a 50 day moving average of $32.97 and a 200-day moving average of $27.29. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of -35.09 and a beta of 1.25.

HashiCorp (NASDAQ:HCP – Get Free Report) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The business had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. As a group, analysts expect that HashiCorp will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other HashiCorp news, insider Ledger Susan St. sold 22,366 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $743,893.16. Following the completion of the transaction, the insider now owns 143,072 shares of the company’s stock, valued at approximately $4,758,574.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Ledger Susan St. sold 22,366 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $743,893.16. Following the completion of the sale, the insider now directly owns 143,072 shares in the company, valued at $4,758,574.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 21,137 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the transaction, the chief technology officer now directly owns 23,234 shares of the company’s stock, valued at $777,874.32. The disclosure for this sale can be found here. Insiders sold a total of 395,170 shares of company stock worth $12,439,765 in the last three months. 22.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC acquired a new stake in shares of HashiCorp in the 1st quarter valued at about $379,000. Washington Harbour Partners LP grew its stake in HashiCorp by 72.5% in the first quarter. Washington Harbour Partners LP now owns 78,500 shares of the company’s stock valued at $2,116,000 after acquiring an additional 33,000 shares during the period. Comerica Bank increased its holdings in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after acquiring an additional 374 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of HashiCorp by 5.1% during the first quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock valued at $2,993,000 after acquiring an additional 5,372 shares in the last quarter. Finally, WPWealth LLP acquired a new position in shares of HashiCorp during the first quarter worth approximately $437,000. Institutional investors own 87.83% of the company’s stock.

HashiCorp Company Profile

(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.

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