Goosehead Insurance, Inc (NASDAQ:GSHD) is among the top gainers of the stock market today, skyrocketing 8.91% or (3.29 points) to $40.24 from its previous close of $36.95. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 215810 contracts so far this session. GSHD shares had a relatively better volume day versus average trading capacity of 144.25 thousand shares, but with a 11.11 million float and a 15.69% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GSHD stock indicates that the average analyst price target is $36.33 per share. This means the stock has a potential decrease of -9.72% from where the GSHD share price has been trading recently which is between $34.9412 and $37. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $34.
The shorts are climbing into Goosehead Insurance, Inc (GSHD) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in GSHD shares. While short interest still represents only 18.24% of GSHD’s float, the number of shares shorted have risen by 4685. The number of shares shorted advanced to 2031488 shares, up from 2026803 shares during the preceding fortnight. With average daily trading volumes at 96944 shares, days to cover increased to about 13.2771 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Akre Capital Management, LLC Buys Goosehead Insurance Inc, Sells Enstar Group” and dated May 13, 2019.
During the recent trading session for Goosehead Insurance, Inc (NASDAQ:GSHD), the company witnessed their stock rise $7.57 over a week and surge $13.68 from the price 20 days ago. When compared to their established 52-week high of $40.72, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/17/19. The recent low of $15.3 stood for a 7.19% since 05/18/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Goosehead Insurance, Inc, the two-week RSI stands at 75.88. This figure suggests that GSHD stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current GSHD readings is similarly very revealing as it has a stochastic reading of 97.05% at this stage. This figure means that GSHD share price today is being oversold.
Technical chart claims that Goosehead Insurance, Inc (GSHD) would settle between $37.65/share to $38.36/share level. However, if the stock price goes below the $35.59 mark, then the market for Goosehead Insurance, Inc becomes much weaker. If that happens, the stock price might even plunge as low as $34.24 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.92. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lifted target price for shares of GSHD but were stick to Buy recommendation for the stock in their opinion released on May 03. The price target has been raised from $35 to $37.
GSHD equity has an average rating of 1.75, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Goosehead Insurance, Inc (NASDAQ:GSHD) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Goosehead Insurance, Inc (GSHD)’s current-quarter revenues are projected to climb by nearly 35.9% to hit $20.1 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 41.32% from $60.15 million to a noteworthy $85 million. At the other end of the current quarter income statement, Goosehead Insurance, Inc is expected to see its adjusted earnings surge by roughly -16.67% to hit $0.1 per share. For the fiscal year, GSHD’s earnings are projected to climb by roughly 125% to hit $0.45 per share.