| Tuesday | ||||
In a regulatory filing… In a regulatory filing last night, Hippo disclosed that its director Noah Knauf bought 208.5K shares of common stock on March 16th in a total transaction size of $3.0M. Shares of Hippo are up 1.8% in pre-market trading. | ||||
| Over a week ago | ||||
Sees FY23 adjusted EBITDA… Sees FY23 adjusted EBITDA ($147M). | ||||
Reports Q4 revenue… Reports Q4 revenue $35.8M, consensus $34.18M. "2022 was a year of rapid progress, evidenced by 33% annual growth in total gross premium and a Q4 gross loss ratio of 42%," said Hippo President and CEO Rick McCathron. "We demonstrated our ability to grow while focusing on profitability and delivering a superior customer experience. We'll build on that success in the year ahead by continuing to develop a differentiated consumer insurance agency and further investment in our Hippo Home Care business." | ||||
| Over a quarter ago | ||||
Keefe Bruyette analyst… Keefe Bruyette analyst Thomas McJoynt-Griffith initiated coverage of Hippo with an Outperform rating and $24 price target. While "high-growth, promising-tech, but no-profitability public insurtech stocks" have declined sharply after the initial surge post-COVID, their underlying missions to use data to more accurately price and mitigate risk, simplify the insurance lifecycle, and "empower a more responsible, aligned customer, still resonate," McJoynt-Griffith tells investors in a research note. The analyst has a balanced view on the subsector, but recommends Hippo for having "line of sight to profitability, adequate capital, strong growth, and attractive valuation." | ||||
Meetings to be held in… Meetings to be held in the Midwest on November 15-16 hosted by JMP Securities. | ||||
Meetings to be held in… Meetings to be held in the Midwest on November 15-16 hosted by JMP Securities. | ||||
Reports Q3 revenue… Reports Q3 revenue $30.7M, consensus $31.5M | ||||
Meetings to be held in… Meetings to be held in the Midwest on November 15-16 hosted by JMP Securities. | ||||
JMP Securities analyst… JMP Securities analyst Matthew Carletti lowered the firm's price target on Hippo to $70 from $100 but keeps an Outperform rating on the shares as part of a broader research note on InsurTech names. Q3 results will likely reflect an "increasingly complex picture" for the industry as a high level of mark-to-market investment losses and an elevated level of catastrophe losses highlighted by Hurricane Ian will negatively impact earnings and book value growth for many, though investors' focus will likely be more forward looking around loss cost inflation pressures, recession fears, and the sustainability of primary pricing, the analyst tells investors in a research note. | ||||
Here are this week's…
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