Slide Insurance (NASDAQ:SLDE) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Slide Insurance (NASDAQ:SLDE) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $19.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 32.53% from the stock’s previous close.

SLDE has been the subject of a number of other research reports. Citizens Jmp initiated coverage on Slide Insurance in a research report on Monday, July 14th. They set a “strong-buy” rating and a $25.00 price objective for the company. Citigroup assumed coverage on Slide Insurance in a report on Monday, July 14th. They set an “outperform” rating for the company. JMP Securities set a $25.00 price target on Slide Insurance and gave the company a “market outperform” rating in a research report on Monday, July 14th. Piper Sandler cut their price objective on Slide Insurance from $25.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, September 2nd. Finally, Barclays assumed coverage on shares of Slide Insurance in a report on Monday, July 14th. They set an “overweight” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.67.

Slide Insurance Stock Performance

SLDE opened at $16.60 on Thursday. Slide Insurance has a one year low of $12.53 and a one year high of $25.90. The stock has a fifty day moving average price of $14.99.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Wednesday, November 5th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.30. The business had revenue of $265.69 million during the quarter, compared to the consensus estimate of $279.36 million.

Slide Insurance announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 27th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Slide Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in Slide Insurance in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Slide Insurance during the 2nd quarter valued at approximately $53,000. Strs Ohio bought a new position in Slide Insurance during the third quarter worth $77,000. New York State Common Retirement Fund acquired a new position in shares of Slide Insurance during the third quarter valued at about $134,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Slide Insurance in the 3rd quarter worth approximately $173,000.

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”).