Hippo (NYSE:HIPO) Upgraded to Hold at Zacks Investment Research

Hippo (NYSE:HIPOGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Hippo Holdings Inc. offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. The company is a licensed property casualty insurance agent with products underwritten by various insurance companies. It operates principally in Austin and Dallas, Texas. Hippo Holdings Inc., formerly known as Reinvent Technology Partners Z, is headquartered in Palo Alto, California. “

HIPO has been the subject of several other reports. Morgan Stanley dropped their target price on Hippo from $4.60 to $3.76 and set an “overweight” rating for the company in a report on Tuesday, March 15th. The Goldman Sachs Group decreased their target price on Hippo from $5.40 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 5th. Finally, JMP Securities started coverage on Hippo in a research report on Wednesday, February 9th. They issued an “outperform” rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $4.25.

NYSE:HIPO traded down $0.03 during trading hours on Thursday, hitting $1.36. The company had a trading volume of 823,799 shares, compared to its average volume of 2,345,606. The company has a 50-day moving average of $1.81 and a 200 day moving average of $2.33. The company has a market cap of $770.12 million, a P/E ratio of -0.22 and a beta of 0.18. Hippo has a 1 year low of $1.16 and a 1 year high of $10.82.

Hippo (NYSE:HIPOGet Rating) last issued its earnings results on Thursday, March 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $32.10 million during the quarter, compared to analysts’ expectations of $28.00 million. Hippo had a negative net margin of 246.66% and a negative return on equity of 37.80%. On average, equities analysts expect that Hippo will post -0.53 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new position in shares of Hippo in the 3rd quarter valued at approximately $26,000. ETF Managers Group LLC purchased a new position in shares of Hippo in the 4th quarter valued at approximately $25,000. JPMorgan Chase & Co. grew its stake in shares of Hippo by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 105,944 shares of the company’s stock valued at $211,000 after purchasing an additional 9,991 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc. purchased a new position in shares of Hippo in the 4th quarter valued at approximately $28,000. Finally, Vivaldi Capital Management LP purchased a new position in shares of Hippo in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 35.23% of the company’s stock.

Hippo Company Profile (Get Rating)

Hippo Holdings Inc provides home protection insurance in the United States and the District of Columbia. Its insurance products include homeowners' insurance against risks of fire, wind, and theft; and commercial and personal lines of products. The company distributes insurance products and services through its technology platform; and offers its policies online, over the phone, or through licensed insurance agents.

Further Reading

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