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Goosehead Insurance downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler downgraded Goosehead Insurance (GSHD) to Neutral from Overweight with a price target of $109, down from $122, following the Q2 report. The firm says the company’s revenue growth missed its expectations in the quarter. As a result, Goosehead’s trajectory for sales and earnings growth is probably closer to 20% than the 30% that investors once expected, the analyst tells investors in a research note. Piper believes the stock is now fully valued.

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