JMP Securities raised the firm’s price target on Goosehead Insurance (GSHD) to $115 from $100 and keeps an Outperform rating on the shares. Goosehead reported better than expected Q3 results and managed updated guidance for FY24, guiding organic growth in total written premiums to a range of 25%-29% and total revenue growth guidance at a range of 13%-19%, the analyst tells investors in a research note. The firm believes Goosehead continues to have a very long runway for strong growth at attractive and expanding margins, with current market headwinds, including product availability in certain geographies, being a temporary phenomenon that is starting to show signs of improvement, and views the risk/reward for the shares as highly attractive at current levels.
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Read More on GSHD:
- Goosehead Insurance price target raised to $110 from $95 at Keefe Bruyette
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- Goosehead Insurance raises FY24 revenue view to $295M-$310M from $290M-$310M
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