The stock of Goosehead Insurance, Inc (NASDAQ:GSHD) is now priced at $75.57 and the shares are 0.01 points up or 0.01% higher compared to its previous closing price of $75.56. The stock had 101176 contracts set over the past session. GSHD shares’ daily volume is compared to its average trading volume at 216335 shares. However, it has a float of 14.36 million and although its performance was 2.26% over the week, it’s one to watch. Analysts have given the GSHD stock a yearly average price target of $69.67 per share. It means the stock’s downside potential is -7.81% with the GSHD share price recently placing at $75.15 to $77.67. However, some brokerage firms have priced the stock below the average, including one that has called $58.
The shorts are running away from the Goosehead Insurance, Inc stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the GSHD shares have declined. Short interest in the stock represents just 13.1% of its float, but the volume has dropped by -26825. The volume of shorted shares dropped to 1.881 million from 1.907 million shares over the last two weeks. The average intraday trading volume has been 192741 shares, which means that days to cover moved to roughly 9.756793.
In the last trading session, Goosehead Insurance, Inc (NASDAQ:GSHD) raised by $1.67 over the week and gained $6.9 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $77.67. The stock recorded its established 52-week high on 07/02/20.
Since 04/08/20, the stock has traded to a low of $37.26 at 102.82%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Goosehead Insurance, Inc’s two-week RSI is 66.8. This suggests that the stock is neutral at the moment and that GSHD shares’ price movement remains stable. The stochastic readings are equally revealing at 89.79% meaning the GSHD share price is currently in oversold territory.
The technical chart shows that the GSHD stock will likely settle at between $77.11 and $78.65 per share. However, if the stock dips below $74.59, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $73.61.
Currently, the stock is trading in the green of MACD, with a reading of 1.4. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned GSHD a rating of Outperform in their intiating review released on December 17. BofA/Merrill analysts see the stock as a Buy, but they also raised the share’s target price from $37 to $55 in a flash note released to investors on July 02. BofA/Merrill analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on May 03, placing it at $37 from $35.
The average rating for the GSHD equity is 1.8 and is currently gathering a bullish momentum. Of 5 analysts tracking Goosehead Insurance, Inc polled by Reuters, 1 rated GSHD as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GSHD stock price is 101.44X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 1511.4 above the group’s average of 21.6. Goosehead Insurance, Inc is currently trading at a discount relative to the 1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Goosehead Insurance, Inc (NASDAQ:GSHD) will decrease by about -99.88%, which will see them reach $24.51 million. The company’s full-year revenues are, however, expected to increase by about 32.08%, up from $77.49 million to $102.35 million. GSHD’s expected adjusted earnings should surge almost 42.86% to end up at $0.1 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 95.45% to record $0.43/share.