Trupanion price target lowered to $28 from $32 at Piper Sandler

Piper Sandler analyst John Barnidge lowered the firm’s price target on Trupanion to $28 from $32 and keeps a Neutral rating on the shares. In an earnings preview ahead of the company’s Q1 report, Piper noted that it is “just above consensus for subscription revenue as well as overall total adjusted operating income,” but added that all eyes will be on “material pricing increases being implemented by Trupanion as it firmly moves into year two of this effort.” The firm added that Trupanion remains a battleground stock in a dramatically growing category.