HashiCorp's Medium-Term Path To Breakeven Impresses Analysts

Needham analyst Alex Henderson reiterated a Hold on HashiCorp, Inc HCP.
HashiCorp held its first analyst day as a public company in LA in association with its large company tradeshow.
He continues to be impressed with Hashi's technology.
He considers the technology a critical part of the transition to modern application workloads, hybrid cloud, multi-cloud, and ultimately a significant portion of the massive shift of Enterprise architectures away from 30+ years of perimeter defense, Enterprise Network backbones, and client-server architectures driven by IP.
Hashi announced several enhancements to products and HCP Cloud.
The most notable was Beta for Vault on Azure cloud, which complements the already GA Vault on AWS.
Hashi reaffirmed its GTM and Financial plans while maintaining guidance for $2 Billion+ ARR with profitability and positive FCF in 2026.
Piper Sandler analyst James Fish raised the price target on HashiCorp to $39 from $38 and reiterated Neutral.
The analyst was encouraged by the company's medium-term path to breakeven.
Price Action: HCP shares traded lower by 2.89% at $32.04 on the last check Friday.

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