Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Six of seven covering firms rate Ethos Technologies a buy, versus one sell rating, with an average 12-month price target of $32.29.
• The company reported quarterly EPS of $0.53, beating the $0.19 consensus estimate, while revenue rose 113.5% year over year to $189.56 million.
• Insiders sold more than 1.09 million shares worth approximately $31.3 million over the past 90 days, although institutional investors and hedge funds collectively own 61.72% of the stock.

Shares of Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.2857.

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Ethos Technologies Inc. Class A Common Stock from $27.00 to $37.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. The Goldman Sachs Group restated a "buy" rating and issued a $35.00 price objective on shares of Ethos Technologies Inc. Class A Common Stock in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ethos Technologies Inc. Class A Common Stock in a research report on Friday, August 21st. Citizens Jmp increased their target price on Ethos Technologies Inc. Class A Common Stock from $27.00 to $33.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird increased their target price on Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th.

Ethos Technologies Inc. Class A Common Stock Stock Performance

NASDAQ LIFE opened at $36.19 on Wednesday. Ethos Technologies Inc. Class A Common Stock has a 12 month low of $9.45 and a 12 month high of $42.55. The business has a fifty day moving average of $31.36. The stock has a market capitalization of $2.31 billion and a PE ratio of -12.70.

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

Insider Activity

In related news, President Lingke Wang sold 118,333 shares of the stock in a transaction 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 of the company's stock, valued at $51,184,806.47. This trade represents a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Peter Colis sold 29,342 shares of Ethos Technologies Inc. Class A Common Stock stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $1,002,909.56. Following the completion of the sale, the chief executive officer owned 1,565,960 shares of the company's stock, valued at $53,524,512.80. The trade was a 1.84% 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. Over the last 90 days, insiders sold 1,093,107 shares of company stock valued at $31,271,566.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Ethos Technologies Inc. Class A Common Stock stock. The Manufacturers Life Insurance Company bought a new position in Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 341,279 shares of the company's stock, valued at approximately $6,191,000. The Manufacturers Life Insurance Company owned 0.54% of Ethos Technologies Inc. Class A Common Stock at the end of the most recent quarter. Institutional investors and hedge funds own 61.72% of the company's stock.

Ethos Technologies Inc. Class A Common Stock Company Profile

Ethos Technologies Inc is a special purpose acquisition company (SPAC) whose Class A common stock trades on the Nasdaq Stock Market under the symbol LIFE. The company was formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition, or similar transaction, with an operating business.

Unlike an operating company, Ethos Technologies does not currently appear to have established products, services, or significant commercial operations of its own.

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