Goosehead Insurance dips after BMO downgrades stock to 'market perform'

Goosehead Insurance

22/08/2024 16:50

** Shares of broker Goosehead Insurance  GSHD.O  fall as
much as 3.1%, last down 2.3% at $80.78 
    ** BMO downgrades GSHD to "market perform" from
"outperform"; maintains PT of $90, which is still a 8.9% upside
to stock's last close     
    ** Brokerage says GSHD's profit margins could come under
incremental pressure YoY as the broker pushes ahead with its
improved hiring strategy
    ** Adds that its PT already embeds a discount owing to
near-term uncertainty around growth fully re-accelerating for
GSHD
    ** Five out of 11 brokerages rate the stock "buy", five
"hold" and one "sell"; their median PT is $84 - LSEG data
    ** As of last close, GSHD shares up 9.1% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))