Goosehead Insurance Inc. (GSHD) PT Raised to $88 at Piper Sandler

Piper Sandler analyst Paul Newsome raised the price target on Goosehead Insurance Inc. (NASDAQ: GSHD) to $88.00 (from $85.00) while maintaining a Overweight rating.

The analyst commented, "We are maintaining our OW rating on GSHD. The stock has fallen sharply in recent weeks due to what we think will likely be near-term weakness in the first quarter earnings, but not recognizing that the full year results will likely be in line with guidance."

"We are changing the seasonality of our 2024 EPS expectations but leaving our 2024 and 2025 estimates unchanged. Following a review of recent comments by management on its last earnings call, discussions at the AIFA conference and other discussions with management we remain confident that the business will perform well for the year, but are more cautious on returns in the first quarter. We think our new earnings model better reflects how new agents will come online during the course of the year."

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