BofA initiated coverage of Neptune Insurance (NP) with an Underperform rating and $21 price target While Neptune – a tech-driven underwriter of private flood insurance – has driven “materially superior” underwriting results and been delivering 20%-plus top-line growth with adjusted EBITDA margins north of 50% since 2021, the firm argues that the stock’s valuation “suggests a lot of good news is already priced in.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NP:
- Neptune Insurance initiated with an Equal Weight at Morgan Stanley
- Neptune Insurance initiated with a Neutral at JPMorgan
- Neptune Insurance initiated with an Underperform at Mizuho
- Neptune Insurance initiated with a Market Perform at BMO Capital
- Hold Rating for Neptune Insurance: Balancing Growth Potential and Market Uncertainty