JPMorgan Chase & Co. Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $58.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by JPMorgan Chase & Co. from $68.00 to $58.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Truist Financial reduced their price target on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Cantor Fitzgerald reduced their price target on Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday. UBS Group reduced their price target on Goosehead Insurance from $90.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Piper Sandler raised Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 price target for the company 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Goosehead Insurance Stock Performance

Shares of GSHD opened at $40.49 on Thursday. The company has a market capitalization of $1.48 billion, a P/E ratio of 38.93, a P/E/G ratio of 2.95 and a beta of 1.69. Goosehead Insurance has a one year low of $39.64 and a one year high of $114.76. The stock has a 50-day moving average price of $48.18 and a 200 day moving average price of $63.16.

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

Insider Buying and Selling

In other news, Director Louis Goldberg bought 5,575 shares of Goosehead Insurance stock in a transaction on Friday, February 20th. The shares were bought at an average price of $44.85 per share, with a total value of $250,038.75. Following the acquisition, the director directly owned 5,575 shares in the company, valued at approximately $250,038.75. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 48.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Wasatch Advisors LP lifted its holdings in Goosehead Insurance by 12.6% during the 2nd 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 last quarter. T. Rowe Price Investment Management Inc. lifted 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 buying an additional 556,293 shares during the last quarter. Durable Capital Partners LP lifted its holdings in Goosehead Insurance by 126.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after buying an additional 861,374 shares during the last quarter. DF Dent & Co. Inc. lifted its holdings in Goosehead Insurance by 3.2% during the 4th quarter. DF Dent & Co. Inc. now owns 1,044,660 shares of the company’s stock worth $76,939,000 after buying an additional 32,246 shares during the last quarter. Finally, State Street Corp lifted its holdings in Goosehead Insurance by 1.4% during the 2nd quarter. State Street Corp now owns 1,027,500 shares of the company’s stock worth $108,412,000 after buying 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.