HashiCorp's Growth Will Rebound To 30%+ Annually Over Years: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Alex Henderson reiterated a Buy rating on HashiCorp, Inc. (NASDAQ:HCP), raising the price target to $36 from $34. HashiCorp reported an Adjusted EPS loss of $(0.10) in Q2 FY24, beating the estimate of $(0.15). The company modestly raised guidance across the board, upping the growth outlook to 20%-21% for FY24. Henderson expects HCP to deliver solid margin leverage over time and believes that growth will rebound to 30%+ annually over the next several years.
September 01, 2023 | 5:56 pm
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HashiCorp's price target has been raised by Needham analyst Alex Henderson, who reiterated a Buy rating on the company. The company's growth outlook for FY24 has been raised to 20%-21%, and the analyst expects growth to rebound to 30%+ annually over the next several years.
The news is highly relevant to HashiCorp as it directly pertains to the company's financial performance and future outlook. The raised price target and Buy rating from the analyst, along with the company's raised growth outlook, are positive indicators that could potentially drive the stock price up in the short term. However, the actual impact will depend on market conditions and investor sentiment.
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