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Hippo (NYSE:HIPO – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.
According to Zacks, “Hippo Holdings Inc. offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. The company is a licensed property casualty insurance agent with products underwritten by various insurance companies. It operates principally in Austin and Dallas, Texas. Hippo Holdings Inc., formerly known as Reinvent Technology Partners Z, is headquartered in Palo Alto, California. “
A number of other brokerages also recently issued reports on HIPO. The Goldman Sachs Group cut their price target on shares of Hippo from $5.40 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, April 5th. Morgan Stanley lowered their price objective on shares of Hippo from $4.60 to $3.76 and set an “overweight” rating on the stock in a research note on Tuesday, March 15th. Finally, JMP Securities began coverage on shares of Hippo in a research note on Wednesday, February 9th. They issued an “outperform” rating and a $4.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.25.
Shares of HIPO traded down $0.06 during trading hours on Wednesday, reaching $1.24. The company had a trading volume of 1,571,393 shares, compared to its average volume of 2,345,766. The firm has a 50 day simple moving average of $1.66 and a 200-day simple moving average of $2.15. The company has a market capitalization of $704.45 million, a price-to-earnings ratio of -0.20 and a beta of 0.22. Hippo has a 12-month low of $1.16 and a 12-month high of $10.82.
Hippo (NYSE:HIPO – Get Rating) last announced its quarterly earnings results on Thursday, March 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $32.10 million during the quarter, compared to analysts’ expectations of $28.00 million. Hippo had a negative net margin of 246.66% and a negative return on equity of 37.80%. Equities research analysts predict that Hippo will post -0.53 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC acquired a new stake in shares of Hippo during the 4th quarter worth about $25,000. Texas Capital Bank Wealth Management Services Inc. acquired a new stake in shares of Hippo during the 4th quarter worth about $28,000. Vivaldi Capital Management LP acquired a new stake in shares of Hippo during the 4th quarter worth about $28,000. IPG Investment Advisors LLC acquired a new stake in shares of Hippo during the 4th quarter worth about $32,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Hippo during the 3rd quarter worth about $57,000. 35.23% of the stock is currently owned by institutional investors.
About Hippo (Get Rating)
Hippo Holdings Inc provides home protection insurance in the United States and the District of Columbia. Its insurance products include homeowners’ insurance against risks of fire, wind, and theft; and commercial and personal lines of products. The company distributes insurance products and services through its technology platform; and offers its policies online, over the phone, or through licensed insurance agents.
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