Bloomberg reported on Friday that HashiCorp has engaged an outside firm to explore interest from potential buyers.
HashiCorp shares soared 13% in extended trading on Friday after Bloomberg reported that the software company has engaged an outside firm to explore interest from potential buyers.
CEO David McJannet said on a conference call with analysts last week that HashiCorp is"behind where we wanted the company to be at this point in our growth cycle, and we have work to do."shares jumped 12% in extended trading on Friday after Bloomberg reported the software developer was considering a sale.
The company has engaged an outside firm to explore interest from potential buyers, Bloomberg said, citing unnamed sources. A company representative didn't immediately respond to CNBC's request for comment.in late 2021, right at the peak of the tech market. The stock dropped 14% last year while the S&P 500 posted a 24% gain.Sign up for NBC San Diego newsletters.
As of Friday's close, HashiCorp was trading at $26.50, or 67% below its initial public offering price. Its market cap sits at around $5 billion. In the latest quarter, revenue growth slowed to 15% from 41% a year earlier. "We are behind where we wanted the company to be at this point in our growth cycle, and we have work to do," CEO David McJannet said on a conference call with analysts last week.in December that he was leaving the company.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Flooding likely, damaging wind possible in southern Alabama Friday and Friday nightStormy weather is forecast late Friday afternoon through early Saturday morning across southern Alabama. Hail and damaging wind could occur in spots and widespread heavy rain is expected to cause flooding. Get all the details in our weather update.
Read more »
Two systems each bring widespread rain and some thunderstorms this weekMonday night into Tuesday and Friday into Friday night will likely be wet and stormy.
Read more »
The Significance of Black History Month in 2024See multiple perspectives from Wall Street Journal (Opinion), Bloomberg, and Newsweek at AllSides.com.
Read more »
Pantera Looks to Purchase Discounted Solana Tokens With New Fund: BloombergShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Read more »
Columbus selected to join Bloomberg American Sustainable Cities initiativeThe city of Columbus has been selected by Bloomberg Philanthropies to join theBloomberg American Sustainable Cities initiative, Mayor Andrew Ginther announced
Read more »
Cleveland Selected for Bloomberg Sustainable Cities Initiative, Will Receive Millions to Fight Climate ChangeCleveland will be one of 25 U.S. cities in the sights of Michael Bloomberg's years-long fight against climate change.City Hall is to receive $200 million, an announcement Tuesday proclaimed, from Bloomberg's American Sustainable Cities initiative to 'pursue transformative solutions in the buildings and transportation sectors.
Read more »