JPMorgan Chase Cuts Goosehead Insurance Price Target to $60.00
Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by JPMorgan Chase & Co. from $68.00 to $60.00 in a recent research note. The brokerage currently has a 'neutral' rating on the stock, which suggests a potential upside of 32.37% from its current price.
The company's revenue grew by 20.6% year-over-year to $95.63 million during the latest quarter, exceeding analyst estimates of $103.30 million. However, its net margin decreased to 8.78%. The firm has a market capitalization of $1.61 billion and a beta of 1.36.
Analysts expect Goosehead Insurance to post earnings per share of $1.46 for the current year. Several large investors have recently bought shares of GSHD, including Wasatch Advisors LP, which increased its position by 32.3% during the first quarter. Langdon Equity Partners also purchased a new position in the company during the fourth quarter.