Hippo (NYSE:HIPO) Price Target Cut to $23.00 by Analysts at The Goldman Sachs Group

Hippo (NYSE:HIPOGet Rating) had its price target lowered by The Goldman Sachs Group from $28.00 to $23.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently weighed in on HIPO. JMP Securities dropped their price objective on Hippo from $100.00 to $70.00 and set a market outperform rating for the company in a research report on Tuesday, October 18th. Keefe, Bruyette & Woods assumed coverage on Hippo in a research report on Thursday, November 17th. They set an outperform rating and a $24.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on Hippo from $51.50 to $17.50 and set an overweight rating for the company in a research report on Tuesday, November 22nd.

Hippo Stock Performance

HIPO opened at $16.34 on Monday. The firm has a market cap of $376.83 million, a P/E ratio of -1.11 and a beta of 0.57. Hippo has a 52-week low of $11.30 and a 52-week high of $67.75. The business’s fifty day moving average is $14.45 and its 200-day moving average is $18.49.

Hippo (NYSE:HIPOGet Rating) last released its earnings results on Thursday, November 10th. The company reported ($3.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.81) by ($0.35). The company had revenue of $30.70 million for the quarter, compared to analyst estimates of $32.82 million. Hippo had a negative return on equity of 35.79% and a negative net margin of 285.35%. On average, research analysts predict that Hippo will post -12.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hippo

Several large investors have recently bought and sold shares of HIPO. JPMorgan Chase & Co. raised its position in Hippo by 10.4% in the first 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. Citigroup Inc. increased its stake in shares of Hippo by 1,031.2% in the first quarter. Citigroup Inc. now owns 58,390 shares of the company’s stock valued at $116,000 after buying an additional 53,228 shares during the period. Vanguard Group Inc. increased its stake in shares of Hippo by 135.5% in the first quarter. Vanguard Group Inc. now owns 15,042,378 shares of the company’s stock valued at $29,934,000 after buying an additional 8,655,415 shares during the period. XTX Topco Ltd acquired a new stake in shares of Hippo in the first quarter valued at about $133,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Hippo by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,877,537 shares of the company’s stock valued at $3,737,000 after buying an additional 72,492 shares during the period.

Hippo Company Profile

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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.

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