Neptune Insurance (NYSE:NP) Shares Gap Up – Still a Buy?

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $17.14, but opened at $18.02. Neptune Insurance shares last traded at $18.20, with a volume of 78,958 shares traded.

Wall Street Analyst Weigh In

NP has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Neptune Insurance in a report on Monday, October 27th. They set a “buy” rating for the company. Raymond James Financial assumed coverage on Neptune Insurance in a research note on Monday, October 27th. They set an “outperform” rating and a $30.00 price target for the company. National Bank Financial set a $23.00 price objective on Neptune Insurance in a research note on Monday, October 27th. JPMorgan Chase & Co. began coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They set a “neutral” rating and a $25.00 target price for the company. Finally, Evercore assumed coverage on shares of Neptune Insurance in a report on Monday, October 27th. They issued an “outperform” rating and a $35.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.92.

Neptune Insurance Price Performance

The company has a market cap of $2.60 billion and a PE ratio of 171.09. The company has a 50-day moving average price of $26.43 and a two-hundred day moving average price of $27.92.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $44.37 million during the quarter, compared to analysts’ expectations of $42.58 million.

Institutional Trading of Neptune Insurance

Several institutional investors have recently added to or reduced their stakes in NP. Vanguard Group Inc. acquired a new position in Neptune Insurance during the 4th quarter worth $47,063,000. Capital World Investors acquired a new position in Neptune Insurance in the fourth quarter worth about $32,091,000. JPMorgan Chase & Co. bought a new stake in Neptune Insurance in the fourth quarter valued at about $27,695,000. Capital International Investors acquired a new stake in Neptune Insurance during the fourth quarter valued at approximately $20,412,000. Finally, TimesSquare Capital Management LLC bought a new position in Neptune Insurance during the 4th quarter worth approximately $12,260,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.