JPMorgan Chase & Co. Issues Positive Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Key Points

• JPMorgan raised its price target on Goosehead Insurance from $55 to $60, while keeping a neutral rating on the stock. The new target implies about 9.5% upside from the prior close.
• Analyst sentiment is mixed: Goosehead has an average Hold rating and a consensus price target of $66.91, with a range of bullish and bearish calls from other firms. The stock also rose 2.3% to $54.78 in Monday trading.
• Goosehead’s latest earnings beat expectations on EPS at $0.37 versus the $0.20 estimate, but revenue of $79.48 million fell short of forecasts. The company also saw insider buying, including purchases by a major shareholder and its general counsel.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its target price lifted by research analysts at JPMorgan Chase & Co. from $55.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 9.52% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their target price on Goosehead Insurance from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Citizens Jmp lowered their price objective on shares of Goosehead Insurance from $125.00 to $100.00 and set a "market outperform" rating on the stock in a report on Monday, April 13th. Bank of America cut their price objective on shares of Goosehead Insurance from $43.00 to $37.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Goosehead Insurance from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday. Finally, Piper Sandler decreased their target price on shares of Goosehead Insurance from $60.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $66.91.

Goosehead Insurance Stock Up 2.3%

GSHD traded up $1.25 during trading on Monday, hitting $54.78. The company had a trading volume of 92,064 shares, compared to its average volume of 496,117. The company has a market capitalization of $1.95 billion, a PE ratio of 48.24, a PEG ratio of 1.88 and a beta of 1.41. Goosehead Insurance has a one year low of $33.68 and a one year high of $104.00. The firm's 50-day moving average price is $41.72 and its 200 day moving average price is $50.36.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.17. The firm had revenue of $79.48 million during the quarter, compared to analysts' expectations of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The company's revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. Sell-side analysts forecast that Goosehead Insurance will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston bought 2,800 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $35.56 per share, with a total value of $99,568.00. Following the acquisition, the insider owned 7,800 shares of the company's stock, valued at $277,368. The trade was a 56.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Martin Ellis Thornthwaite purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $41.50 per share, for a total transaction of $207,500.00. Following the purchase, the general counsel owned 5,000 shares in the company, valued at $207,500. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 12,800 shares of company stock valued at $480,718 and sold 219,192 shares valued at $9,092,267. Insiders own 38.07% of the company's stock.

Hedge Funds Weigh In On Goosehead Insurance

Several institutional investors and hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Goosehead Insurance by 484.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company's stock valued at $25,000 after acquiring an additional 426 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company's stock worth $34,000 after purchasing an additional 269 shares during the period. Versant Capital Management Inc increased its position in shares of Goosehead Insurance by 471.9% in the second quarter. Versant Capital Management Inc now owns 772 shares of the company's stock worth $37,000 after purchasing an additional 637 shares during the period. Kestra Advisory Services LLC acquired a new position in Goosehead Insurance in the fourth quarter valued at about $41,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Goosehead Insurance by 802.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company's stock valued at $47,000 after purchasing an additional 393 shares in the last quarter.

Goosehead Insurance Company Profile

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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