Trupanion (NASDAQ:TRUP) Given New $34.00 Price Target at Canaccord Genuity Group

Trupanion (NASDAQ:TRUP) had its price objective cut by stock analysts at Canaccord Genuity Group from $40.00 to $34.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 71.28% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Evercore ISI dropped their price objective on shares of Trupanion from $35.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Piper Sandler dropped their price target on Trupanion from $28.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus increased their price target on Trupanion from $25.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.33.

Trupanion Price Performance

Shares of TRUP stock opened at $19.85 on Friday. Trupanion has a fifty-two week low of $18.45 and a fifty-two week high of $36.82. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $25.61 and a two-hundred day simple moving average of $26.71.

Trupanion (NASDAQ:TRUP) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $306.12 million during the quarter, compared to analyst estimates of $300.51 million. Trupanion had a negative net margin of 2.31% and a negative return on equity of 9.10%. Trupanion’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.60) EPS. As a group, analysts forecast that Trupanion will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRUP. BluePath Capital Management LLC bought a new position in shares of Trupanion in the third quarter valued at approximately $31,000. Quest Partners LLC bought a new position in Trupanion during the 4th quarter valued at $67,000. PNC Financial Services Group Inc. boosted its holdings in Trupanion by 45.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,990 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 933 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Trupanion in the 4th quarter worth $211,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Trupanion in the third quarter valued at about $219,000.

About Trupanion

Trupanion, Inc, together with its subsidiaries, provides medical insurance for cats and dogs on a monthly subscription basis in the United States, Canada, Continental Europe, and Australia. The company operates in two segments, Subscription Business and Other Business. It serves pet owners and veterinarians.