Goosehead Insurance (NASDAQ:GSHD) Price Target Lowered to $37.00 at Bank of America

Key Points

• Bank of America cut its price target on Goosehead Insurance to $37.00 (from $43.00) and maintained an underperform rating, implying roughly a 10% downside from the current price.
• Several other brokerages also trimmed targets; the consensus price target is $67.45 and the stock's average rating is "Hold" (7 Buys, 6 Holds, 1 Sell).
• Goosehead beat EPS estimates with $0.64 vs. $0.54 but missed on revenue ($78.2M vs. $99.7M); the stock traded near $41.10, with a market cap of about $1.5B and a 12‑month range of $39.64 to $114.76.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its price target reduced by analysts at Bank of America from $43.00 to $37.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's price target points to a potential downside of 9.98% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets decreased their price target on shares of Goosehead Insurance from $79.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price target on shares of Goosehead Insurance from $68.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Truist Financial decreased their price target on shares of Goosehead Insurance from $72.00 to $58.00 and set a "hold" rating on the stock in a research note on Wednesday, February 18th. Cantor Fitzgerald decreased their price target on shares of Goosehead Insurance from $84.00 to $67.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Goosehead Insurance from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.45.

Goosehead Insurance Stock Down 1.9%

Goosehead Insurance stock traded down $0.79 during mid-day trading on Tuesday, reaching $41.10. 111,792 shares of the company's stock traded hands, compared to its average volume of 468,241. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 2.95 and a beta of 1.69. The stock has a 50 day moving average of $47.81 and a two-hundred day moving average of $62.83. Goosehead Insurance has a 12-month low of $39.64 and a 12-month high of $114.76.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.10. The company had revenue of $78.20 million for the quarter, compared to the consensus estimate of $99.67 million. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. Goosehead Insurance's revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, sell-side analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, Director Louis Goldberg purchased 5,575 shares of Goosehead Insurance stock in a transaction dated Friday, February 20th. The shares were purchased at an average cost of $44.85 per share, for a total transaction of $250,038.75. Following the completion of the acquisition, the director owned 5,575 shares in the company, valued at $250,038.75. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 48.35% of the company's stock.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP raised its holdings in shares of Goosehead Insurance by 12.6% in the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company's stock worth $240,074,000 after buying an additional 253,777 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Goosehead Insurance by 38.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company's stock worth $147,448,000 after purchasing an additional 556,293 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Goosehead Insurance by 126.5% in the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company's stock worth $114,769,000 after purchasing an additional 861,374 shares during the last quarter. DF Dent & Co. Inc. grew its holdings in shares of Goosehead Insurance by 3.2% in the fourth quarter. DF Dent & Co. Inc. now owns 1,044,660 shares of the company's stock worth $76,939,000 after purchasing an additional 32,246 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Goosehead Insurance by 1.4% in the second quarter. State Street Corp now owns 1,027,500 shares of the company's stock worth $108,412,000 after purchasing an additional 14,311 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance NASDAQ: GSHD is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.

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