- Needham analyst Alex Henderson reiterated Hold on HashiCorp, Inc (NASDAQ:HCP).
- HCP has seen considerable pressure, as it expects maximum margin pain in FY3Q. This style of “growth at all costs” is out of favor, he noted.
- As the economy slows and spending tightens, Hashi’s strategic positioning, Open Source orientation, and controlled growth strategy should insulate it from the macro slowdown, he believes, but it’s not immune.
- He thinks Hashi will temper spending in this environment, and this, in turn, supported by rearview mirror investments, should allow more operating margin leverage and a narrowing of EPS losses.
- Like Okta, Inc (NASDAQ:OKTA), he thinks the Street may like this outcome.
- He thinks it’s too early to step up as the projected losses are daunting even if they narrow more rapidly.
- Also Read: Okta Stock Can Move In Positive Direction Despite Challenges, Analysts Say
- Price Action: HCP shares traded lower by 1.86% at $26.94 on the last check Monday.
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