Citizens Jmp Forecasts Strong Price Appreciation for Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE) Stock

Key Points

• Citizens Jmp raised its price target for Ethos Technologies (NASDAQ: LIFE) from $33 to $40 and maintained a “market outperform” rating, implying 8.23% upside. Analysts overall give the stock a “Moderate Buy” consensus with an average target of $35.62.
• Ethos reported strong quarterly results, including EPS of $0.53 versus $0.19 expected and revenue of $189.56 million, up 113.5% year over year.
• Insiders sold 1.09 million shares worth $31.3 million over the past 90 days, while institutional investors and hedge funds own 61.72% of the company.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) had its price objective hoisted by analysts at Citizens Jmp from $33.00 to $40.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price objective indicates a potential upside of 8.23% from the company's current price.

Several other equities analysts have also commented on the company. Weiss Ratings raised Ethos Technologies Inc. Class A Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday. Citigroup reaffirmed a "market outperform" rating on shares of Ethos Technologies Inc. Class A Common Stock in a research report on Monday. JPMorgan Chase & Co. downgraded shares of Ethos Technologies Inc. Class A Common Stock from an "overweight" rating to a "neutral" rating and set a $37.00 price objective for the company. in a research report on Thursday, October 1st. Bank of America reiterated a "buy" rating and set a $38.00 price objective on shares of Ethos Technologies Inc. Class A Common Stock in a research note on Thursday, September 24th. Finally, Robert W. Baird boosted their target price on shares of Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.62.

Ethos Technologies Inc. Class A Common Stock Price Performance

Shares of NASDAQ LIFE opened at $36.96 on Monday. Ethos Technologies Inc. Class A Common Stock has a 1-year low of $9.45 and a 1-year high of $42.55. The stock has a 50-day moving average of $35.42. The stock has a market capitalization of $2.36 billion and a P/E ratio of -12.97.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.34. The company had revenue of $189.56 million during the quarter. The firm's revenue for the quarter was up 113.5% on a year-over-year basis. Sell-side analysts expect that Ethos Technologies Inc. Class A Common Stock will post -2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ethos Technologies Inc. Class A Common Stock news, President Lingke Wang sold 118,333 shares of Ethos Technologies Inc. Class A Common Stock stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $33.29, for a total transaction of $3,939,305.57. Following the sale, the president directly owned 1,537,543 shares in the company, valued at $51,184,806.47. The trade was a 7.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Brandt Walter Kucharski sold 77,436 shares of Ethos Technologies Inc. Class A Common Stock stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $34.93, for a total value of $2,704,839.48. Following the sale, the chief accounting officer owned 105,994 shares in the company, valued at $3,702,370.42. This represents a 42.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 1,093,107 shares of company stock valued at $31,271,566.

Hedge Funds Weigh In On Ethos Technologies Inc. Class A Common Stock

A number of institutional investors have recently made changes to their positions in the business. Zevenbergen Capital Investments LLC acquired a new stake in shares of Ethos Technologies Inc. Class A Common Stock during the third quarter worth approximately $720,000. Glynn Capital Management LLC bought a new stake in shares of Ethos Technologies Inc. Class A Common Stock in the third quarter worth $15,999,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of Ethos Technologies Inc. Class A Common Stock in the third quarter worth $32,000. State Street Corp acquired a new stake in Ethos Technologies Inc. Class A Common Stock in the second quarter valued at $932,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Ethos Technologies Inc. Class A Common Stock in the second quarter valued at $6,191,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Ethos Technologies Inc. Class A Common Stock Company Profile

Ethos Technologies Inc operates a technology-driven, direct-to-consumer platform for the distribution of life insurance products. Through its digital underwriting, data analytics, and proprietary technology, it enables consumers to explore, compare, and purchase life insurance policies online. The platform serves consumers, agents, and insurance carriers, and supports the application and policy issuance process through an online interface. The company works with insurance carriers to offer life insurance products in the United States through digital channels and independent agents.

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