Goosehead Insurance price target lowered to $85 from $89 at Piper Sandler

Piper Sandler analyst Paul Newsome lowered the firm’s price target on Goosehead Insurance to $85 from $89 and keeps an Overweight rating on the shares following an earnings miss related to lower-than-expected revenue and a smaller EBITDA margin in the quarter. Earnings guidance suggests lower-than-expected revenue in 2024, although the guidance and commentary for margins suggests a moderation of the impact of slower revenue growth on the bottom line, Piper says.