Goosehead Insurance (NASDAQ:GSHD) Given New $111.00 Price Target at Cantor Fitzgerald

Goosehead Insurance (NASDAQ:GSHD) had its target price dropped by analysts at Cantor Fitzgerald from $125.00 to $111.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 55.69% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Goosehead Insurance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Piper Sandler lowered their price objective on Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. UBS Group cut their target price on Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating for the company in a research report on Monday, October 27th. JPMorgan Chase & Co. dropped their price objective on Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Goosehead Insurance in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.30.

Goosehead Insurance Stock Performance

GSHD opened at $71.29 on Wednesday. The stock has a 50-day moving average of $72.74 and a 200-day moving average of $79.58. Goosehead Insurance has a 52-week low of $64.40 and a 52-week high of $127.99. The company has a market cap of $2.63 billion, a PE ratio of 63.09, a price-to-earnings-growth ratio of 9.27 and a beta of 1.53.

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

Insider Activity

In related news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction 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 owned 269,322 shares in the company, valued at $19,827,485.64. This represents a 20.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Miller purchased 5,000 shares of Goosehead Insurance stock in a transaction dated Friday, November 28th. The stock was bought at an average price of $72.34 per share, with a total value of $361,700.00. Following the acquisition, the chief executive officer directly owned 35,000 shares of the company’s stock, valued at approximately $2,531,900. This trade represents a 16.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 7,973 shares of company stock worth $577,487 over the last quarter. Corporate insiders own 37.76% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Goosehead Insurance by 802.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after purchasing an additional 393 shares in the last quarter. CWM LLC increased its stake in Goosehead Insurance by 73.8% in the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Goosehead Insurance by 71.4% during the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock worth $51,000 after buying an additional 284 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Goosehead Insurance by 52.3% in the 3rd quarter. Covestor Ltd now owns 1,177 shares of the company’s stock valued at $88,000 after acquiring an additional 404 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.