HCP Stock Recent News

HashiCorp's third-quarter revenue and earnings easily beat expectations. But the company also revealed significantly lower net dollar retention rates, spurring concerns over a deceleration in growth.

HashiCorp (NASDAQ: HCP ) stock is falling on Friday after the cloud infrastructure automation solutions released its fiscal Q3 2024 earnings report. The HashiCorp earnings report starts with adjusted earnings per share of 3 cents.

HashiCorp, Inc. (NASDAQ:HCP ) Q3 2024 Earnings Conference Call December 7, 2023 5:00 PM ET Company Participants Alex Kurtz - VP, IR and Corporate Development Dave McJannet - CEO Navam Welihinda - CFO Armon Dadgar - CTO and Co-Founder Conference Call Participants Sanjit Singh - Morgan Stanley Jason Ader - William Blair Ittai Kidron - Oppenheimer Alex Henderson - Needham Mark Murphy - JPMorgan Alex Zukin - Wolfe Research Nick Altmann - Scotiabank Pat Walravens - JMP Securities Fatima Boolani - Citi Derrick Wood - Cowen Gray Powell - BTIG Brad Reback - Stifel Michael Turtis - KeyBanc Miller Jump - Truist Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to HashiCorp's Fiscal 2024 Third Quarter Earnings Call. At this time, all participants are in a listen-only mode.

HashiCorp (NASDAQ: HCP ) just reported results for the third quarter of 2024. HashiCorp reported earnings per share of 3 cents.

While the top- and bottom-line numbers for HashiCorp, Inc. (HCP) give a sense of how the business performed in the quarter ended October 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

HashiCorp, Inc. (HCP) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to loss of $0.13 per share a year ago.

We are upgrading HashiCorp to a Hold. The stock has declined about 45% since our sell rating in May 2022 and underperformed the S&P 500 by 58%. While we remained concerned about the current macro climate impacting its growth trajectory, we believe the downside is now limited.

HashiCorp, Inc. (HCP) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

SAN FRANCISCO, Nov. 06, 2023 (GLOBE NEWSWIRE) -- HashiCorp, Inc. (NASDAQ: HCP), a leading provider of multi-cloud infrastructure automation software, today announced it will release financial results for its third quarter of fiscal year 2024, which ended Oct. 31, 2023, after the U.S. markets close Thursday, Dec. 7, 2023.

HashiCorp was created to provide automation tools for organizations adopting multiple clouds. HashiCorp offers a unique product portfolio that covers every layer of the modern app stack, with Terraform and Vault being its core products. It has a differentiating sales strategy based on a freemium model, starting with an open-source usage before moving to commercialization.