Slide Insurance (NASDAQ:SLDE) Given New $21.00 Price Target at Piper Sandler

Slide Insurance (NASDAQ:SLDE) had its price target increased by equities research analysts at Piper Sandler from $18.00 to $21.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 21.53% from the company’s current price.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Slide Insurance in a research note on Wednesday, October 8th. Morgan Stanley raised Slide Insurance from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Thursday, September 25th. Finally, Citizens Jmp assumed coverage on Slide Insurance in a research note on Monday, July 14th. They set a “strong-buy” rating and a $25.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Slide Insurance presently has an average rating of “Moderate Buy” and an average price target of $22.67.

Slide Insurance Price Performance

NASDAQ:SLDE traded up $0.48 during midday trading on Thursday, reaching $17.28. The stock had a trading volume of 558,549 shares, compared to its average volume of 1,180,929. The business’s fifty day simple moving average is $14.86. Slide Insurance has a 12-month low of $12.53 and a 12-month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.30. The firm had revenue of $265.69 million during the quarter, compared to analysts’ expectations of $279.36 million.

Slide Insurance declared that its board has authorized a share repurchase plan on Wednesday, August 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Slide Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in Slide Insurance in the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Slide Insurance during the 2nd quarter valued at approximately $53,000. Strs Ohio acquired a new stake in shares of Slide Insurance during the 3rd quarter valued at approximately $77,000. New York State Common Retirement Fund acquired a new stake in shares of Slide Insurance during the 3rd quarter valued at approximately $134,000. Finally, Man Group plc acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at approximately $210,000.

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”).