GooseHead Insurance ( (GSHD) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Goosehead Insurance’s stock took a hit following its Q2 earnings report. Despite a 20% increase in revenue to $94 million and an 18% growth in core revenue, the company’s net income dropped to $8.3 million from $10.9 million. This decline led Piper Sandler to downgrade the stock from Overweight to Neutral and lower the price target. Analysts now expect sales and earnings growth to be around 20%, down from the previous 30% estimate, suggesting the stock may have reached its full valuation despite management’s positive outlook for premium growth.
More about GooseHead Insurance
YTD Price Performance: 1.92%
Average Trading Volume: 268,356
Technical Sentiment Signal: Buy
Current Market Cap: $3.88B
For further insights into GSHD stock on TipRanks’ Stock Analysis page.
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