why HashiCorp Inc. [HCP] is a Good Choice for Investors After New Price Target of $32.31

HashiCorp Inc. [NASDAQ: HCP] stock went on an upward path that rose over 0.07% on Thursday, amounting to a one-week price increase of more than 2.97%. The company report on August 31, 2023 at 4:05 PM that HashiCorp Announces Second Quarter of Fiscal Year 2024 Financial Results.

Second quarter revenue totaled $143.2 million, representing an increase of 26% year-over-year.

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Trailing four quarter average Net Dollar Retention Rate was 124% at the end of the second quarter of fiscal 2024 as compared to 134% at the end of second quarter of fiscal 2023.

Over the last 12 months, HCP stock dropped by -19.43%. The one-year HashiCorp Inc. stock forecast points to a potential upside of 9.75. The average equity rating for HCP stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.48 billion, with 190.81 million shares outstanding and 96.22 million shares in the current float. Compared to the average trading volume of 2.31M shares, HCP stock reached a trading volume of 3006094 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on HashiCorp Inc. [HCP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HCP shares is $32.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HCP stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for HashiCorp Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 08, 2023.

The Average True Range (ATR) for HashiCorp Inc. is set at 1.15, with the Price to Sales ratio for HCP stock in the period of the last 12 months amounting to 10.68. The Price to Book ratio for the last quarter was 4.66, with the Price to Cash per share for the same quarter was set at 6.86.

HCP Stock Performance Analysis:

HashiCorp Inc. [HCP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.97. With this latest performance, HCP shares gained by 4.22% in over the last four-week period, additionally sinking by -0.72% over the last 6 months – not to mention a drop of -19.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HCP stock in for the last two-week period is set at 54.30, with the RSI for the last a single of trading hit 56.90, and the three-weeks RSI is set at 52.74 for HashiCorp Inc. [HCP]. The present Moving Average for the last 50 days of trading for this stock 27.95, while it was recorded at 28.81 for the last single week of trading, and 28.94 for the last 200 days.

Insight into HashiCorp Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and HashiCorp Inc. [HCP] shares currently have an operating margin of -62.47 and a Gross Margin at +80.16. HashiCorp Inc.’s Net Margin is presently recorded at -57.64.

Return on Total Capital for HCP is now -23.58, given the latest momentum, and Return on Invested Capital for the company is -21.81. Return on Equity for this stock declined to -22.05, with Return on Assets sitting at -16.87. When it comes to the capital structure of this company, HashiCorp Inc. [HCP] has a Total Debt to Total Equity ratio set at 1.28. Additionally, HCP Total Debt to Total Capital is recorded at 1.27, with Total Debt to Total Assets ending up at 0.95. Long-Term Debt to Equity for the company is recorded at 1.00, with the Long-Term Debt to Total Capital now at 0.99.

Reflecting on the efficiency of the workforce at the company, HashiCorp Inc. [HCP] managed to generate an average of -$114,291 per employee. Receivables Turnover for the company is 3.29 with a Total Asset Turnover recorded at a value of 0.29.HashiCorp Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.20 and a Current Ratio set at 4.20.

HashiCorp Inc. [HCP] Institutonal Ownership Details

The top three institutional holders of HCP stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in HCP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in HCP stock with ownership which is approximately 5.7381%.

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