Trupanion (NASDAQ:TRUP) Given New $34.00 Price Target at Canaccord Genuity Group

Trupanion (NASDAQ:TRUP) had its target price reduced by Canaccord Genuity Group from $40.00 to $34.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also issued reports on TRUP. Piper Sandler lowered their price objective on Trupanion from $28.00 to $22.00 and set a neutral rating for the company in a research note on Friday. Evercore ISI dropped their target price on Trupanion from $35.00 to $31.00 and set an outperform rating for the company in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus upped their target price on Trupanion from $25.00 to $28.00 and gave the company a hold rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Trupanion presently has an average rating of Hold and an average target price of $32.33.

Trupanion Price Performance

NASDAQ TRUP traded down $3.93 during trading on Friday, hitting $19.85. 2,330,524 shares of the stock traded hands, compared to its average volume of 553,707. The company has a market capitalization of $833.50 million, a P/E ratio of -31.02 and a beta of 1.76. Trupanion has a 12-month low of $18.45 and a 12-month high of $36.82. The firm has a 50-day simple moving average of $25.67 and a 200-day simple moving average of $26.77. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.42.

Trupanion (NASDAQ:TRUP) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Trupanion had a negative net margin of 2.31% and a negative return on equity of 9.10%. The company had revenue of $306.12 million for the quarter, compared to analysts’ expectations of $300.51 million. During the same quarter in the previous year, the business posted ($0.60) earnings per share. Trupanion’s quarterly revenue was up 19.4% on a year-over-year basis. As a group, analysts predict that Trupanion will post -0.43 EPS for the current year.

Institutional Trading of Trupanion

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Trupanion by 34.6% in the 4th quarter. Wellington Management Group LLP now owns 2,453,685 shares of the financial services provider’s stock worth $74,862,000 after buying an additional 630,155 shares during the period. Sivia Capital Partners LLC bought a new position in Trupanion during the 4th quarter worth about $31,398,000. 8 Knots Management LLC purchased a new position in Trupanion during the 4th quarter valued at about $21,165,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Trupanion by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,029 shares of the financial services provider’s stock valued at $9,154,000 after purchasing an additional 7,088 shares in the last quarter. Finally, Lagoda Investment Management L.P. lifted its position in shares of Trupanion by 19.3% in the 3rd quarter. Lagoda Investment Management L.P. now owns 240,785 shares of the financial services provider’s stock worth $6,790,000 after purchasing an additional 38,905 shares during the period.

About Trupanion

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.