HashiCorp Inc. (HCP) expanding its growth trajectory ahead

HashiCorp Inc. (NASDAQ: HCP) stock fell -0.68% on Monday to $24.92 against a previous-day closing price of $25.09. With 1.24 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.99 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $25.25 whereas the lowest price it dropped to was $24.77. The 52-week range on HCP shows that it touched its highest point at $37.31 and its lowest point at $21.50 during that stretch. It currently has a 1-year price target of $32.87. Beta for the stock currently stands at 1.14.

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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 down-trending over the past week, with a drop of -4.74%, but this was down by -9.08% over a month. Three-month performance dropped to -12.75% while six-month performance fell -16.21%. The stock lost -20.74% in the past year, while it has lost -8.85% so far this year. A look at the trailing 12-month EPS for HCP yields -1.27 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.04. This implies an EPS growth rate of 7.40% for this year and 140.90% for next year.

Float and Shares Shorts:

At present, 192.61 million HCP shares are outstanding with a float of 102.82 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.5 million, which was 2.84% higher than short shares on Jul 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 79.48% of HCP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.87% of HCP, in contrast to 38.14% held by mutual funds. Shares owned by individuals account for 3.65%. As the largest shareholder in HCP with 9.12% of the stake, The Vanguard Group, Inc. holds 9,153,041 shares worth 9,153,041. A second-largest stockholder of HCP, JPMorgan Investment Management, I, holds 8,409,376 shares, controlling over 8.37% of the firm’s shares. Baillie Gifford & Co. is the third largest shareholder in HCP, holding 7,388,693 shares or 7.36% stake. With a 3.08% stake in HCP, the Vanguard US Growth Fund is the largest stakeholder. A total of 3,097,005 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.82% of HCP stock, is the second-largest Mutual Fund holder. It holds 2,834,902 shares valued at 82.67 million. Fidelity Select Port. – Technolog holds 2.56% of the stake in HCP, owning 2,569,494 shares worth 74.93 million.

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 $26.00, the average target price over the next 12 months is $32.69. Based on these targets, HCP could surge 68.54% to reach the target high and rise by 4.33% to reach the target low. Reaching the average price target will result in a growth of 31.18% 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 22 Buys and 17 Sells. In these transactions, 644,527 shares were bought while 454,593 shares were sold. The number of buy transactions has increased to 110 while that of sell transactions has risen to 113 over the past year. The total number of shares bought during that period was 18,485,408 while 15,924,896 shares were sold.

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