HashiCorp rises on upbeat forecast, results

Hashicorp

02/09/2022 12:18

** Shares of cloud software vendor HashiCorp Inc  HCP.O  up
18.5% at $35.88 in premarket trading
    ** HCP on Thursday forecast current-quarter and FY revenue
above Street's estimates  urn:newsml:reuters.com:*:nTUAB0ZGTB
    ** Also posted 52% rise in Q2 revenue to $113.9 mln as more
companies continues to invest in cloud infrastructure
    ** J.P. Morgan says it remains positive on co's
sophisticated technology, open-source business model execution
and large and growing total addressable market
    ** JPM adds reacceleration in growth investments after a
pandemic driven slowdown is expected to weigh on profitability
and free cash flow in near term; cuts PT to $42 from $45
    ** Avg. rating of 13 analysts is "buy"; median PT is $43.50
- Refinitiv data
    ** As of last close, stock fell ~68% this year

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))