BofA lowered the firm’s price target on Goosehead Insurance to $35 from $36 and keeps an Underperform rating on the shares. The firm is expecting a miss versus “already revised” FY24 revenue guidance as it has adjusted down its “already low assumption for contingent commissions” related to historically low auto insurance underwriting margins to include a headwind from significant convective storm activity over the past few weeks, as well as the National Association of Realtors home sales data for April.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GSHD:
- Fly Insider: Theravance Bio, Amgen among week’s notable insider trades
- Goosehead Insurance price target lowered to $72 from $90 at BMO Capital
- Goosehead Insurance price target lowered to $60 from $70 at Truist
- Goosehead Insurance price target lowered to $80 from $88 at RBC Capital
- Goosehead Insurance price target lowered to $65 from $88 at Piper Sandler
Questions or Comments about the article? Write to editor@tipranks.com