In a report released on September 2, Kash Rangan from Goldman Sachs reiterated a Hold rating on HashiCorp (HCP – Research Report), with a price target of $41.99. The company’s shares closed yesterday at $28.55.
According to TipRanks, Rangan is a 4-star analyst with an average return of 7.3% and a 54.72% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce, Datadog, and Samsara.
In addition to Goldman Sachs, HashiCorp also received a Hold from J.P. Morgan’s Mark Murphy in a report issued on September 2. However, on the same day, JMP Securities maintained a Buy rating on HashiCorp (NASDAQ: HCP).
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Based on HashiCorp’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $113.86 million and a GAAP net loss of $74.76 million. In comparison, last year the company earned a revenue of $75.11 million and had a GAAP net loss of $24.9 million
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HCP in relation to earlier this year. Most recently, in June 2022, Sweeney Brandon, the CRO of HCP sold 29,569.00 shares for a total of $777,632.13.
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HashiCorp Inc is engaged in solving the infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds. Its cloud operating model provides consistent workflows and a standardized approach to automate the processes involved in delivering applications in the cloud: infrastructure provisioning, security, networking, and application deployment. Its main commercial products are Terraform, Vault, Consul, and Nomad.
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