HashiCorp Shares Plunge 17% Despite Strong Q1 Results
<p><a href='https://financialmodelingprep.com/financial-summary/HCP'>HashiCorp, Inc. (NASDAQ:HCP)</a> shares were trading more than 17% lower Friday afternoon despite strong Q1 results, highlighted by strong growth in revenue from customers with over $100,000 in ARR (up 50.7% year-over-year).</p>
<p>The company is executing on its land-expand-and-extend GTM model, with management highlighting several customers now consuming multiple products. Analysts at Oppenheimer see further room for upside as HCP adoption accelerates, allowing the company to penetrate the SMB segment. </p>
<p>The company expects Q2/23 revenue in the range of $101 - $103 million. For the full 2023-year, the revenue is expected to be $422 - $432 million. While the guidance is somewhat conservative and takes into account the potential for macroeconomic headwinds, Oppenheimer analysts remain bullish and believe the company is in the early innings of addressing a massive growth opportunity.</p>

NASDAQ:HCP