JMP Securities Reaffirms Their Buy Rating on HashiCorp (HCP)

In a report released yesterday, Patrick Walravens from JMP Securities maintained a Buy rating on HashiCorp (HCPResearch Report), with a price target of $38.00. The company’s shares closed yesterday at $29.42.

According to TipRanks, Walravens is a 3-star analyst with an average return of 0.8% and a 43.32% success rate. Walravens covers the Technology sector, focusing on stocks such as Salesforce, Zoom Video Communications, and Coupa Software.

HashiCorp has an analyst consensus of Moderate Buy, with a price target consensus of $37.63, implying a 27.91% upside from current levels. In a report released on January 9, FBN Securities also initiated coverage with a Buy rating on the stock with a $35.00 price target.

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The company has a one-year high of $83.12 and a one-year low of $21.50. Currently, HashiCorp has an average volume of 1.56M.

Based on the recent corporate insider activity of 79 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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