Trupanion

TRUP · NASDAQ

$28.76+$1.26 (+4.58%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $27.50

TRUP analyst rating

HoldConsensus of 5 analysts over the last 12 months. 40% rate it a buy.

Strong buy0
Buy2
Hold3
Underperform0
Sell0

12-month price target · 6 analysts

Average $34.94 (+21.5% upside)

Low: $29.29
Now: $28.76
High: $44.10

Upgrades and downgrades

The latest rating actions, newest first

TRUP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 7, 2026	Maintains	Neutral	$34.00 → $30.00	62%
Piper Sandler	Aug 26, 2026	Downgrade	Overweight → Neutral	$45.00 → $32.00	58%
Stifel	Aug 20, 2026	Maintains	Hold	$28.00 → $29.00	55%
B of A Securities	Apr 14, 2026	Maintains	Buy	$63.00 → $59.00	60%
Cantor Fitzgerald	Apr 9, 2026	Maintains	Neutral	$42.00 → $34.00	62%
Stifel	Mar 31, 2026	Maintains	Hold	$35.00 → $31.00	55%
Stifel	Feb 13, 2026	Maintains	Hold	$38.00 → $35.00	55%
Piper Sandler	Feb 13, 2026	Maintains	Overweight	$60.00 → $45.00	64%
Stifel	Jan 29, 2026	Maintains	Hold	$42.00 → $38.00	55%
Cantor Fitzgerald	Jan 14, 2026	Maintains	Neutral	$50.00 → $42.00	62%

The case for and against

Updated Aug 4, 2026

Bull case

Trupanion is expected to continue its strong subscription revenue growth (+13.9% y/y) and maintain its high profitability (4Q25 adjusted operating income margin of 15.3%). With a positive outlook from management and the potential for consolidation in the insurance distribution space, Trupanion's strong underwriting business could make it an attractive acquisition target. However, our Overweight rating and $45 price target reflect a lower industry multiple and slower revenue growth.

Bear case

Trupanion is seeing modest flat gross add growth in 2025 and potentially losing market share for the eighth straight year, leading to increased concerns about their ability to scale in the increasingly competitive specialty insurance market. Despite recent improvements in retention and loss ratio, there are still doubts about the effectiveness and ROI of Trupanion's acquisition strategies, as seen in the high incremental PAC per pet added in the fourth quarter. Additionally, the company's planned expansion into international markets and other product offerings may not provide significant long-term solutions to these challenges.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.