Cantor Fitzgerald Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $111.00

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by Cantor Fitzgerald from $125.00 to $111.00 in a report issued on Wednesday morning, Marketbeat reports. Cantor Fitzgerald currently has an overweight rating on the stock.

GSHD has been the subject of several other research reports. Jefferies Financial Group assumed coverage on Goosehead Insurance in a research note on Monday, December 1st. They set a “buy” rating and a $93.00 price target for the company. BMO Capital Markets dropped their target price on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a report on Tuesday, November 25th. Truist Financial cut their target price on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Piper Sandler lowered their price target on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, Zacks Research raised shares of Goosehead Insurance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.30.

Goosehead Insurance Price Performance

GSHD opened at $71.57 on Wednesday. The stock has a market cap of $2.64 billion, a P/E ratio of 63.34, a P/E/G ratio of 9.12 and a beta of 1.53. The stock’s 50 day simple moving average is $72.96 and its 200 day simple moving average is $79.23. Goosehead Insurance has a 1-year low of $64.40 and a 1-year high of $127.99.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). The firm had revenue of $90.44 million for the quarter, compared to analyst estimates of $94.25 million. Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. Research analysts expect that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Activity

In other Goosehead Insurance news, Director Thomas Mcconnon sold 69,686 shares of Goosehead Insurance stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the sale, the director directly owned 269,322 shares of the company’s stock, valued at approximately $19,827,485.64. The trade was a 20.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark E. Jr. Jones purchased 873 shares of the business’s stock in a transaction on Monday, October 27th. The stock was acquired at an average price of $74.44 per share, with a total value of $64,986.12. Following the completion of the acquisition, the chief financial officer directly owned 4,364 shares in the company, valued at $324,856.16. The trade was a 25.01% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 7,973 shares of company stock valued at $577,487. 48.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently made changes to their positions in the business. Caxton Associates LLP purchased a new position in shares of Goosehead Insurance in the 2nd quarter worth about $2,140,000. Index Fund Advisors Inc. purchased a new stake in shares of Goosehead Insurance during the 2nd quarter worth about $1,510,000. GAMMA Investing LLC increased its position in Goosehead Insurance by 41.7% during the 2nd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $92,000 after purchasing an additional 257 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Goosehead Insurance in the second quarter valued at approximately $1,948,000. Finally, 3G Capital Partners LP lifted its position in Goosehead Insurance by 105.6% during the second quarter. 3G Capital Partners LP now owns 462,500 shares of the company’s stock valued at $48,798,000 after buying an additional 237,500 shares in the last quarter.

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.