Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $80.00 by Analysts at Citizens Jmp

Key Points

• Citizens JMP lowered Goosehead Insurance’s price target from $100 to $80 while maintaining a “market outperform” rating, implying 83.87% upside from the prior close.
• Analyst sentiment is mixed: Goosehead has a consensus “Hold” rating and an average price target of $65.75, with recent targets ranging from $48 to $76.
• The company exceeded quarterly EPS expectations, reporting $0.64 versus $0.47 estimated, while revenue rose 20.6% year over year but fell short of forecasts; insiders were net buyers over the latest quarter.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its price objective cut by Citizens Jmp from $100.00 to $80.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's target price would indicate a potential upside of 83.87% from the company's previous close.

A number of other equities analysts have also commented on GSHD. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $76.00 price target on shares of Goosehead Insurance in a research report on Thursday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of Goosehead Insurance from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, October 1st. Texas Capital raised shares of Goosehead Insurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 29th. Keefe, Bruyette & Woods decreased their target price on shares of Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Finally, Piper Sandler cut shares of Goosehead Insurance from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $72.00 to $48.00 in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Goosehead Insurance currently has a consensus rating of "Hold" and an average price target of $65.75.

Goosehead Insurance Price Performance

Shares of GSHD stock opened at $43.51 on Monday. The company has a market capitalization of $1.55 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. Goosehead Insurance has a 12-month low of $33.68 and a 12-month high of $79.85. The firm has a 50 day moving average price of $59.18 and a two-hundred day moving average price of $49.99.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The business had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. During the same period in the previous year, the company posted $0.49 EPS. The firm's quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts expect that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The stock was bought at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the completion of the transaction, the insider directly owned 2,720,260 shares in the company, valued at $128,722,703.20. This represents a 5.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $66.87, for a total value of $1,503,304.47. Following the sale, the insider owned 6,767,661 shares of the company's stock, valued at approximately $452,553,491.07. The trade was a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 339,979 shares of company stock worth $18,446,632 and have sold 267,000 shares worth $18,056,139. Insiders own 38.07% of the company's stock.

Institutional Trading of Goosehead Insurance

Large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its stake in shares of Goosehead Insurance by 484.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company's stock valued at $25,000 after buying an additional 426 shares during the period. Versant Capital Management Inc raised its position in Goosehead Insurance by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 772 shares of the company's stock valued at $37,000 after buying an additional 637 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Goosehead Insurance in the second quarter valued at about $48,000. Nykredit A S bought a new position in shares of Goosehead Insurance during the 2nd quarter worth approximately $50,000. Finally, GAMMA Investing LLC lifted its holdings in Goosehead Insurance by 37.6% during the third quarter. GAMMA Investing LLC now owns 1,200 shares of the company's stock worth $54,000 after acquiring an additional 328 shares during the period.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.

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