BofA Securities slashes price target on HashiCorp Inc [HCP] – find out why.

HashiCorp Inc [NASDAQ: HCP] surged by $1.06 during the normal trading session on Tuesday and reaching a high of $21.00 during the day while it closed the day at $20.40.

HashiCorp Inc stock has also gained 3.61% of its value over the past 7 days. However, HCP stock has declined by -27.97% in the 3 months of the year. Over the past six months meanwhile, it has lost -33.40% and lost -25.38% year-on date.

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The market cap for HCP stock reached $3.95 billion, with 193.65 million shares outstanding and 100.72 million shares in the current float. Compared to the average trading volume of 1.82M shares, HCP reached a trading volume of 3971939 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $31.75 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 1.89. 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 0.88, with the Price to Sales ratio for HCP stock in the period of the last 12 months amounting to 7.28. The Price to Book ratio for the last quarter was 3.33, with the Price to Cash per share for the same quarter was set at 6.42.

HCP stock trade performance evaluation

HashiCorp Inc [HCP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.61. With this latest performance, HCP shares dropped by -6.42% in over the last four-week period, additionally sinking by -33.40% over the last 6 months – not to mention a drop of -14.32% 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 44.19, with the RSI for the last a single of trading hit 50.61, and the three-weeks RSI is set at 41.10 for HashiCorp Inc [HCP]. The present Moving Average for the last 50 days of trading for this stock 23.00, while it was recorded at 19.65 for the last single week of trading, and 27.81 for the last 200 days.

HashiCorp Inc [HCP]: An insightful look at the core fundamentals

HashiCorp Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.86 and a Current Ratio set at 3.86.

HashiCorp Inc [HCP]: Institutional Ownership

The top three institutional holders of HCP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in HCP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in HCP stock with ownership which is approximately 5.7994%.