- Needham Analyst Alex Henderson repeated a hold on Hashi Corp, Inc HCP.
- HashiCorp held its first Analyst Day as a public company in LA in conjunction with its major corporate trade show.
- He remains impressed with Hashi’s technology.
- He views the technology as a critical part of the transition to modern application workloads, hybrid cloud, multi-cloud, and ultimately an essential part of the massive shift in enterprise architectures away from more than 30 years of perimeter protection, enterprise network backbones, and client IP controlled server architectures.
- Hashi announced several improvements Products and HCP Cloud.
- Most notable was the beta for Vault on the Azure cloud, which complements the already GA Vault on AWS.
- Hashi reiterated its GTM and financial plans while maintaining guidance of $2 billion ARR with profitability and positive FCF in 2026.
- Piper Sandler Analyst James Fish raised HashiCorp’s price target to $39 from $38 and reiterated neutral.
- The analyst was encouraged by the company’s medium-term path to breakeven.
- Price promotion: HCP shares traded 2.89% lower at $32.04 on the last check Friday.
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