33.73
price up icon0.36%   0.12
pre-market  Pre-market:  33.20   -0.53   -1.57%
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Why is Hashicorp Inc (HCP) Stock down?

We've noticed a 5.94% decline in Hashicorp Inc (HCP) stock during the 2024-04-12 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
08 Dec, 2023:

Shares of HashiCorp Inc (HCP) dropped by 16.43% from $24.90 to $20.81 in the trading on Friday, December 8, 2023. The reason why is HCP down today is due to concerns over the company's revenue retention trends from existing customers.

  • Strong Quarterly Results but Retention Worries Persist: HashiCorp reported robust quarterly results, with a 17% YoY revenue increase to *$146.1 million and positive adjusted earnings of $0.03 per share, surpassing analyst expectations. Despite customer growth and improved cash flow, investors were troubled by a declining net dollar retention rate, which fell to 119%, down from 124% the previous quarter and 134% a year ago.
  • Fourth-Quarter Outlook: HashiCorp provided a fourth-quarter revenue forecast of $148 million to $150 million, with adjusted earnings ranging from breakeven to $0.02 per share, in line with analyst estimates. However, concerns about slowing growth led to the stock's sharp decline.
18 Oct, 2023:

HashiCorp Inc Stock (HCP) dropped by 3.26% from $21.79 to $21.08 in the trading on Wednesday October 18, 2023. The reason why HCP stock down today is due to cut in cloud spending. HashiCorp (HCP), a provider of multi-cloud infrastructure automation software, is facing pressure as enterprises scrutinize cloud-related costs. The company has cut its FY24 revenue outlook and workforce in response to the slowdown in IT spending.

01 Sep, 2023:

HashiCorp, Inc. (HCP) faced a 5.18% decline as Truist Financial reduced its target from $36.00 to $34.00. The stock closed at $27.65, down from its open at $29.16. Analysts have mixed opinions, with one sell, four hold, and nine buy ratings, yielding a "Moderate Buy" consensus and an average target of $35.67 per MarketBeat data.

https://www.marketbeat.com/instant-alerts/nasdaq-hcp-gap-down-2023-09-01/

08 Jun, 2023:

HashiCorp shareholders saw a rough day as the stock plummeted 25.86%, from $34.77 to $25.78. This drop was attributed to concerns about slowing growth trends in Q1 2024 and a cautious outlook due to reduced enterprise software and IT spending.

https://www.fool.com/investing/2023/06/08/why-hashicorp-stock-fell-hard-on-thursday/

22 Mar, 2023:

HashiCorp, Inc. (HCP) dropped by 7.19%, fell to $28.15 from $30.33. HCP, as well as many other Wall Street stocks, tumbled as investors expressed concerns over the Federal Reserve's decision to raise interest rates by a quarter of a percentage point, especially amidst a banking crisis.

https://www.nytimes.com/2023/03/22/business/stock-markets-rates-fed-decision.html

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