Neptune Insurance price target lowered to $23 from $30 at Raymond James

Raymond James analyst Gregory Peters lowered the firm’s price target on Neptune Insurance (NP) to $23 from $30 and keeps an Outperform rating on the shares. Insurance brokers and insurance-related technology stocks are down about 22% year-to-date amid AI displacement concerns, though stable credit spreads, short interest, and management guidance suggest no meaningful deterioration in fundamentals, the analyst tells investors in a research note. While organic growth and margin expansion may moderate in 2026, multiyear AI infrastructure investment and strong hyperscaler capex should support premium growth, with large-cap brokers still positioned to outpace the broader market and potentially accelerate share repurchases if valuations remain compressed, the firm says.