JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Palomar Holdings Inc (NASDAQ:PLMR) has reached an impressive milestone, with its stock price hitting an all-time high of $128.42. This peak reflects a significant surge in investor confidence, as evidenced by the company’s remarkable 1-year return of 63.17%. According to InvestingPro data, the company maintains a "GREAT" financial health score, with analysts setting price targets as high as $152. The ascent to this record price level underscores Palomar’s strong performance, with impressive revenue growth of 47.33% over the last twelve months. Investors are closely monitoring the stock, as it continues to demonstrate robust financial health and momentum in an ever-evolving industry landscape. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of PLMR’s growth trajectory.
In other recent news, Palomar Holdings reported its fourth-quarter 2024 earnings, significantly surpassing analyst expectations with an earnings per share (EPS) of $1.52 compared to the anticipated $1.22. However, the company’s revenue fell slightly short of forecasts, coming in at $373.7 million against a projected $377.97 million. Following this announcement, Keefe, Bruyette & Woods (KBW) raised its price target for Palomar from $136.00 to $152.00, maintaining an Outperform rating based on the company’s robust growth and favorable underwriting outcomes. KBW also updated its EPS estimates for Palomar for 2025 and 2026, now expecting $6.45 and $7.90, respectively, due to anticipated faster premium growth and lower catastrophe loss ratios. The firm’s analysts expressed confidence in Palomar’s ability to sustain strong performance in premium growth and underwriting results. Palomar’s full-year adjusted net income for 2024 increased by 43% to $133.5 million, reflecting a 23% revenue growth year-over-year. The company projects adjusted net income between $180 million and $192 million for 2025, with expectations of mid-to-high teens growth in earthquake premiums. CEO Mac Armstrong emphasized the company’s strategic positioning for continued growth, supported by recent acquisitions and market expansions.
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