Hippo (NYSE:HIPO – Get Rating) had its target price decreased by analysts at The Goldman Sachs Group from $5.40 to $3.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 44.23% from the stock’s current price.
Several other equities research analysts have also issued reports on the stock. JMP Securities assumed coverage on shares of Hippo in a research report on Wednesday, February 9th. They issued an “outperform” rating and a $4.00 price objective for the company. Morgan Stanley decreased their target price on Hippo from $4.60 to $3.76 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. Finally, Zacks Investment Research downgraded Hippo from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hippo currently has a consensus rating of “Hold” and an average target price of $4.25.
Shares of NYSE HIPO opened at $2.08 on Tuesday. The business’s 50-day moving average is $1.96. Hippo has a 1-year low of $1.63 and a 1-year high of $10.82.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIPO. Innovius Capital Management LLC purchased a new stake in shares of Hippo during the 4th quarter worth approximately $49,155,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Hippo by 273.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 17,097,036 shares of the company’s stock valued at $48,314,000 after buying an additional 12,516,661 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Hippo during the 4th quarter valued at about $12,098,000. Dragoneer Investment Group LLC bought a new stake in Hippo during the 3rd quarter valued at about $15,581,000. Finally, Geode Capital Management LLC lifted its position in Hippo by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,090,459 shares of the company’s stock valued at $8,745,000 after acquiring an additional 99,221 shares in the last quarter. 10.60% of the stock is owned by institutional investors and hedge funds.
Hippo Company Profile
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.