BofA lowered the firm’s price target on Goosehead Insurance to $35 from $36 and keeps an Underperform rating on the shares. The firm is expecting a miss versus “already revised” FY24 revenue guidance as it has adjusted down its “already low assumption for contingent commissions” related to historically low auto insurance underwriting margins to include a headwind from significant convective storm activity over the past few weeks, as well as the National Association of Realtors home sales data for April.
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