Canaccord Genuity Group Lowers Trupanion (NASDAQ:TRUP) Price Target to $34.00

Trupanion (NASDAQ:TRUP) had its target price reduced by analysts at Canaccord Genuity Group from $40.00 to $34.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 71.28% from the company’s current price.

Several other research analysts have also recently commented on TRUP. Piper Sandler reduced their target price on Trupanion from $28.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday. Evercore ISI decreased their target price on shares of Trupanion from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus increased their price target on shares of Trupanion from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.33.

Trupanion Stock Performance

NASDAQ:TRUP opened at $19.85 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.63 and a current ratio of 1.63. The firm’s 50-day moving average is $25.61 and its 200-day moving average is $26.71. Trupanion has a 52-week low of $18.45 and a 52-week high of $36.82.

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

Institutional Investors Weigh In On Trupanion

A number of hedge funds have recently made changes to their positions in TRUP. PNC Financial Services Group Inc. grew its stake in Trupanion by 45.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,990 shares of the financial services provider’s stock worth $84,000 after buying an additional 933 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Trupanion by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,120 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 948 shares during the last quarter. Check Capital Management Inc. CA increased its stake in shares of Trupanion by 4.7% in the fourth quarter. Check Capital Management Inc. CA now owns 24,000 shares of the financial services provider’s stock valued at $732,000 after buying an additional 1,075 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Trupanion by 1.4% in the third quarter. New York State Common Retirement Fund now owns 79,142 shares of the financial services provider’s stock valued at $2,232,000 after buying an additional 1,101 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Trupanion in the third quarter valued at about $31,000.

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.