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

Key Points

• Barclays raised its price target for Ethos Technologies to $37 from $27 and maintained an “overweight” rating, implying 62.07% potential upside from the current price.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $31.17.
• Ethos reported quarterly EPS of $0.53, exceeding the $0.19 consensus estimate, while revenue reached $189.56 million, up 113.5% year over year. Shares opened at $22.83 after rising 11.8%.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) had its price target lifted by research analysts at Barclays from $27.00 to $37.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 62.07% from the stock's current price.

Several other research analysts have also issued reports on LIFE. Weiss Ratings lowered Ethos Technologies Inc. Class A Common Stock from a "hold (c)" rating to a "sell (d)" rating in a research report on Tuesday, May 26th. Citizens Jmp boosted their price objective on Ethos Technologies Inc. Class A Common Stock from $21.00 to $27.00 and gave the company a "market outperform" rating in a report on Thursday, May 7th. Robert W. Baird upped their price objective on Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday. Citigroup reiterated a "market outperform" rating on shares of Ethos Technologies Inc. Class A Common Stock in a research report on Tuesday. Finally, William Blair set a $33.00 target price on shares of Ethos Technologies Inc. Class A Common Stock in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.17.

Ethos Technologies Inc. Class A Common Stock Trading Up 11.8%

Shares of LIFE opened at $22.83 on Tuesday. The company has a fifty day moving average price of $18.39. The stock has a market capitalization of $1.44 billion and a P/E ratio of -7.25. Ethos Technologies Inc. Class A Common Stock has a twelve month low of $9.45 and a twelve month high of $32.50.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.19 by $0.34. The firm had revenue of $189.56 million for the quarter. The business's quarterly revenue was up 113.5% compared to the same quarter last year.

Insider Transactions at Ethos Technologies Inc. Class A Common Stock

In other news, CFO Christopher M. Capozzi sold 80,586 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.13, for a total transaction of $1,783,368.18. Following the transaction, the chief financial officer directly owned 665,228 shares in the company, valued at approximately $14,721,495.64. This trade represents a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Lingke Wang sold 46,349 shares of Ethos Technologies Inc. Class A Common Stock stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.11, for a total transaction of $1,024,776.39. Following the transaction, the president directly owned 764,836 shares in the company, valued at approximately $16,910,523.96. The trade was a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 781,048 shares of company stock worth $16,165,634. Insiders own 3.70% of the company's stock.

About Ethos Technologies Inc. Class A Common Stock

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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