These Analysts Cut Their Forecasts On HashiCorp After Q3 Results

HashiCorp Inc. HCP reported upbeat earnings for its third quarter on Thursday.

HashiCorp reported quarterly earnings of 3 cents per share which topped the analyst consensus estimate of a loss of 4 cents. Revenue clocked in at $146.13 million, beating the analyst consensus estimate of $143.24 million, according to Benzinga Pro.

Full-year 2024 earnings were estimated to be between losses of 14 cents and losses of 12 cents per share, versus the estimate of losses of 22 cents. Revenue was anticipated to be between $576 million and $578 million, versus the $573.46 million estimate.

HashiCorp shares fell 0.1% to close at $24.90 on Thursday.

These analysts made changes to their price targets on HashiCorp following earnings announcement.

  • Needham cut the price target on HashiCorp from $36 to $27. Needham analyst Alex Henderson maintained a Buy rating.
  • TD Cowen lowered the price target on HashiCorp from $28 to $23. TD Cowen analyst Derrick Wood downgraded the stock from Outperform to Market Perform.

 

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