Slide Insurance (NASDAQ:SLDE) Price Target Raised to $24.00

Slide Insurance (NASDAQ:SLDE) had its price objective upped by Piper Sandler from $22.00 to $24.00 in a report released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

SLDE has been the subject of several other research reports. Morgan Stanley upped their price objective on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Barclays boosted their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance presently has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $19.00 on Thursday. The firm’s fifty day moving average price is $17.62 and its two-hundred day moving average price is $16.26. The stock has a market cap of $2.36 billion and a PE ratio of 14.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.30 and a current ratio of 1.30. Slide Insurance has a fifty-two week low of $12.53 and a fifty-two week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Institutional Investors Weigh In On Slide Insurance

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Slide Insurance by 35.1% in the fourth quarter. Invesco Ltd. now owns 20,066 shares of the company’s stock valued at $391,000 after buying an additional 5,212 shares during the period. Vident Advisory LLC bought a new stake in shares of Slide Insurance in the 4th quarter valued at $859,000. State of Tennessee Department of Treasury lifted its position in shares of Slide Insurance by 29.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 13,479 shares of the company’s stock valued at $263,000 after acquiring an additional 3,079 shares during the period. NewEdge Advisors LLC bought a new position in Slide Insurance during the fourth quarter worth $1,277,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Slide Insurance in the fourth quarter worth $2,686,000.

About Slide Insurance

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.