Bank of America Raises Trupanion (NASDAQ:TRUP) Price Target to $56.00

Trupanion (NASDAQ:TRUP) had its target price raised by investment analysts at Bank of America from $47.00 to $56.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price points to a potential upside of 33.33% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus restated a “hold” rating and issued a $30.00 price objective (up previously from $22.00) on shares of Trupanion in a research report on Friday, August 9th. Piper Sandler increased their price target on Trupanion from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Evercore ISI raised Trupanion to a “strong-buy” rating in a research report on Friday, August 9th. William Blair started coverage on Trupanion in a research report on Friday, July 19th. They issued an “outperform” rating for the company. Finally, Northland Securities increased their target price on Trupanion from $35.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Trupanion Trading Down 8.3 %

NASDAQ:TRUP opened at $42.00 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.42. Trupanion has a 1-year low of $19.14 and a 1-year high of $49.14. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -65.63 and a beta of 1.74. The business’s 50-day moving average price is $40.33 and its two-hundred day moving average price is $31.60.

Trupanion (NASDAQ:TRUP) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.04. Trupanion had a negative net margin of 1.57% and a negative return on equity of 6.29%. The business had revenue of $314.80 million for the quarter, compared to analyst estimates of $309.33 million. During the same quarter last year, the firm earned ($0.33) EPS. Trupanion’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities analysts expect that Trupanion will post -0.37 earnings per share for the current year.

Insider Activity at Trupanion

In other Trupanion news, CFO Fawwad Qureshi sold 640 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.12, for a total transaction of $27,596.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Margaret Tooth sold 7,500 shares of Trupanion stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.48, for a total value of $348,600.00. Following the sale, the chief executive officer now owns 99,984 shares of the company’s stock, valued at $4,647,256.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Fawwad Qureshi sold 640 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $43.12, for a total value of $27,596.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,764 shares of company stock valued at $405,238. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC acquired a new stake in shares of Trupanion in the 4th quarter valued at approximately $67,000. Headlands Technologies LLC acquired a new stake in Trupanion in the second quarter valued at $162,000. Victory Capital Management Inc. bought a new position in shares of Trupanion in the 4th quarter valued at about $211,000. Blueshift Asset Management LLC acquired a new position in shares of Trupanion during the 4th quarter worth about $220,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Trupanion in the 2nd quarter valued at about $235,000.

Trupanion Company Profile

Trupanion, Inc, together with its subsidiaries, provides medical insurance for cats and dogs on a monthly subscription basis in the United States, Canada, Continental Europe, and Australia. The company operates in two segments, Subscription Business and Other Business. It serves pet owners and veterinarians.