HashiCorp (NASDAQ:HCP – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.00-0.02 for the period, compared to the consensus earnings per share estimate of ($0.02). The company issued revenue guidance of $148-150 million, compared to the consensus revenue estimate of $149.06 million. HashiCorp also updated its FY24 guidance to ($0.14)-($0.12) EPS.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HCP. Piper Sandler upped their price target on HashiCorp from $27.00 to $30.00 and gave the company a neutral rating in a research report on Friday, September 1st. Oppenheimer reiterated an outperform rating and issued a $42.00 price objective on shares of HashiCorp in a report on Friday, September 1st. Needham & Company LLC reiterated a buy rating and issued a $36.00 price objective on shares of HashiCorp in a report on Tuesday. Bank of America decreased their price objective on HashiCorp from $34.00 to $30.00 in a report on Thursday, October 12th. Finally, William Blair reiterated an outperform rating on shares of HashiCorp in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, HashiCorp currently has a consensus rating of Moderate Buy and an average target price of $34.40.

Check Out Our Latest Stock Analysis on HCP

HashiCorp Stock Performance

Shares of HCP stock traded down $0.01 during mid-day trading on Thursday, hitting $24.90. 3,588,337 shares of the stock were exchanged, compared to its average volume of 1,837,123. The stock’s fifty day simple moving average is $21.29 and its two-hundred day simple moving average is $25.76. HashiCorp has a 12-month low of $18.91 and a 12-month high of $37.31. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of -19.71 and a beta of 1.26.

Insider Transactions at HashiCorp

In other news, CEO David Mcjannet sold 38,689 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $23.08, for a total transaction of $892,942.12. Following the completion of the transaction, the chief executive officer now directly owns 176,165 shares of the company’s stock, valued at approximately $4,065,888.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO David Mcjannet sold 38,689 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $23.08, for a total transaction of $892,942.12. Following the completion of the transaction, the chief executive officer now directly owns 176,165 shares of the company’s stock, valued at approximately $4,065,888.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 101,779 shares of HashiCorp stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $22.03, for a total transaction of $2,242,191.37. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $33,485,600. The disclosure for this sale can be found here. Insiders sold a total of 351,408 shares of company stock valued at $7,924,859 in the last ninety days. Corporate insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in shares of HashiCorp in the 1st quarter valued at $2,742,000. Great West Life Assurance Co. Can acquired a new position in shares of HashiCorp in the 1st quarter valued at $3,795,000. Blair William & Co. IL acquired a new position in shares of HashiCorp in the 1st quarter valued at $273,000. Vanguard Group Inc. boosted its holdings in shares of HashiCorp by 21.9% in the 1st quarter. Vanguard Group Inc. now owns 1,278,704 shares of the company’s stock valued at $69,050,000 after purchasing an additional 229,768 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of HashiCorp in the 1st quarter valued at $2,722,000. 45.93% of the stock is owned by hedge funds and other institutional investors.

About HashiCorp (Get Free Report)

HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider HashiCorp, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and HashiCorp wasn’t on the list.

While HashiCorp currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

Original: MarketBeat News Feed: HashiCorp (NASDAQ:HCP) Updates Q4 Earnings Guidance