Goosehead Insurance gains after BMO upgrade, PT raise

Goosehead Insurance

20/09/2023 17:36

** Shares of Goosehead Insurance  GSHD.O  rise 5.8% to $79,
hits highest level since April 2022 
    ** BMO Capital Markets upgrades stock to "outperform" from
"market perform", raises PT to $90 from $86, an upside of 20.6%
on the stock's last close 
    ** Brokerage sees co's recently implemented business model
and changes bringing upward earnings revision, revenue
re-acceleration
    ** BMO expects GSHD's rev growth to bottom at ~29% in Q3 of
the current FY and stabilize over 30% as headwinds normalize
    ** Co's shares have jumped 25.3% since it replaced Nuvasive
in the small-cap S&P 600 in August
    ** Of the 9 analysts covering the stock, 5 have "buy", 3
have "hold" and 1 has a "sell" rating; median PT stands at
$76.50 
    ** GSHD up 128% YTD, outperforming the small-cap S&P 600
index  .SPCY  which has gained 2.27% year-to-date
    

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))