Piper Sandler lowered the firm’s price target on Neptune Insurance (NP) to $30 from $33 and keeps an Overweight rating on the shares following quarterly results. The firm cites lower peer multiples given AI-dislocation that has occurred in markets for insurance distribution platforms. Top-line driven beat with record sales as NP benefited from the government shutdown, Piper notes.
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Read More on NP:
- Neptune Insurance reports Q4 adjusted EPS 42c vs 31c last year
- Neptune Insurance price target lowered to $23 from $30 at Raymond James
- Neptune Insurance Holdings, Inc. Class A (NP) Q4 Earnings Cheat Sheet
- Neptune Insurance upgraded to Outperform from Market Perform at BMO Capital
- Neptune Insurance price target raised to $32.50 from $30 at Goldman Sachs