Goosehead Insurance price target raised to $115 from $100 at JMP Securities

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.