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HashiCorp (NASDAQ:HCP) may reach between $32 and $40 per share following a report late Friday that the cloud software company is evaluating its options, including a sale, according to an Oppenheimer analyst. The actions shot up 12% in pre-market trading on Monday,
We believe that “several parties could “We would be interested in HashiCorp as it possesses much-needed core technologies that enable companies to scale in multi-cloud environments,” Ittai Kidron, an analyst at Oppenheimer, who has an outperform and price target, wrote in a note on Monday. of 34 dollars in HCP. “Given the attractive near-term operating potential and recent acquisition multiples, we believe the company can achieve a price of $32-$40 per share, reflecting an EV/sales multiple of ~8-10x for FY26.” “.
HashiCorp (HCP) has been working with a financial advisor in recent months to gauge interest from potential bidders, according to a Bloomberg report late Friday, which cited people familiar with the matter. The cloud software company has already held exploratory talks with other industry players.
Potential buyers of HashiCorp (HCP) include private equity firms and large enterprise core vendors focused on enabling multi-cloud such as Cisco (CSCO), Oracle (ORCL), and IBM (IBM), Kidron wrote.
While the stock currently trades at ~6x EV/Sales for FY26 on a “depressed outlook reflecting current challenges,” an EV/Sales multiple of 8-10x “more appropriately” reflects its near-term operating potential.
