A Look at HashiCorp Inc. (HCP) Shares in the Recent Past Indicates Growth

HashiCorp Inc. (NASDAQ: HCP) stock fell -0.58% on Tuesday to $32.75 against a previous-day closing price of $32.94. With 0.77 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.36 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $33.77 whereas the lowest price it dropped to was $32.47. The 52-week range on HCP shows that it touched its highest point at $44.34 and its lowest point at $21.50 during that stretch. It currently has a 1-year price target of $36.81.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HCP was up-trending over the past week, with a rise of 6.02%, but this was up by 19.66% over a month. Three-month performance surged to 6.50% while six-month performance rose 32.70%. The stock lost -3.79% in the past year, while it has gained 19.79% so far this year. A look at the trailing 12-month EPS for HCP yields -1.48 with Next year EPS estimates of -0.09. For the next quarter, that number is -0.12. This implies an EPS growth rate of 7.40% for this year and 76.90% for next year.

Float and Shares Shorts:

At present, 188.74 million HCP shares are outstanding with a float of 87.94 million shares on hand for trading. On Apr 27, 2023, short shares totaled 5.48 million, which was 2.87% higher than short shares on Mar 30, 2023. In addition to Mr. David McJannet as the firm’s CEO & Chairman, Mr. Armon Dadgar serves as its Co-Founder, CTO & Director.

Institutional Ownership:

Through their ownership of 73.58% of HCP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.93% of HCP, in contrast to 40.74% held by mutual funds. Shares owned by individuals account for 3.92%. As the largest shareholder in HCP with 9.96% of the stake, JPMorgan Investment Management, I holds 8,158,142 shares worth 8,158,142. A second-largest stockholder of HCP, T. Rowe Price Associates, Inc., holds 8,144,127 shares, controlling over 9.94% of the firm’s shares. Baillie Gifford & Co. is the third largest shareholder in HCP, holding 7,280,625 shares or 8.88% stake. With a 3.67% stake in HCP, the Vanguard US Growth Fund is the largest stakeholder. A total of 3,009,303 shares are owned by the mutual fund manager. The T Rowe Price New Horizons Fund, which owns about 3.66% of HCP stock, is the second-largest Mutual Fund holder. It holds 2,996,000 shares valued at 80.32 million. Vanguard Total Stock Market ETF holds 2.49% of the stake in HCP, owning 2,040,771 shares worth 54.71 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2023, HCP reported revenue of $100.90M and operating income of -$78.44M. The EBITDA in the recently reported quarter was -$77.54M and diluted EPS was -$0.43.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HCP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HCP analysts setting a high price target of $42.00 and a low target of $32.00, the average target price over the next 12 months is $36.53. Based on these targets, HCP could surge 28.24% to reach the target high and fall by -2.29% to reach the target low. Reaching the average price target will result in a growth of 11.54% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded HCP stock several times over the past three months with 24 Buys and 23 Sells. In these transactions, 5,077,506 shares were bought while 5,092,408 shares were sold. The number of buy transactions has increased to 107 while that of sell transactions has risen to 99 over the past year. The total number of shares bought during that period was 28,459,394 while 25,750,936 shares were sold.

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