Cantor Fitzgerald Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $67.00

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by investment analysts at Cantor Fitzgerald from $84.00 to $67.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 52.99% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Goosehead Insurance in a report on Wednesday, January 28th. Wall Street Zen raised Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler raised Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 price objective for the company in a report on Wednesday, February 18th. Keefe, Bruyette & Woods lowered their price objective on Goosehead Insurance from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Goosehead Insurance in a report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Goosehead Insurance Stock Down 4.0%

GSHD traded down $1.84 during trading on Thursday, hitting $43.80. 12,306 shares of the company traded hands, compared to its average volume of 466,596. Goosehead Insurance has a one year low of $40.00 and a one year high of $114.76. The stock’s fifty day moving average is $49.02 and its 200 day moving average is $63.67. The firm has a market cap of $1.60 billion, a P/E ratio of 42.11, a price-to-earnings-growth ratio of 3.03 and a beta of 1.69.

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

Insider Activity

In related news, Director Louis Goldberg acquired 5,575 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average price of $44.85 per share, with a total value of $250,038.75. Following the acquisition, the director owned 5,575 shares of the company’s stock, valued at approximately $250,038.75. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Durable Capital Partners LP boosted its position 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 valued at $114,769,000 after acquiring an additional 861,374 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Goosehead Insurance by 38.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock worth $147,448,000 after acquiring an additional 556,293 shares during the period. Langdon Equity Partners purchased a new stake in Goosehead Insurance in the 4th quarter worth approximately $41,892,000. Whitebark Investors LP bought a new position in Goosehead Insurance in the 3rd quarter valued at $25,229,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Goosehead Insurance during the 3rd quarter valued at $25,222,000.

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.