Goldman Sachs covered a drop of water for the first time and gave it a “buy” rating, with a target price of 11
$Waterdrop (WDH.US)$ According to the US Stock Research Service, $Goldman Sachs (GS) $ recently published a research report covering Water Drop for the first time and giving it a “buy” rating. The target price for 12 months is 11 US dollars, with 33% potential room for growth.
Goldman Sachs believes in its research report that promoting the development of long-term insurance products is Shuidi's most important strategic goal in the next 3-5 years. If successful, this will help mitigate the potential impact of falling commission rates on short-term insurance products while increasing their appeal to insurance company partners. Goldman Sachs conservatively estimates that the premiums for the first year of Water Drop Long Term Insurance in 2024 will increase to 13 billion yuan, accounting for 26%.
Goldman Sachs's target price for FY22/23 meant 4.1 times/2.9 times the price-earnings ratio for FY22/23, while the average price-earnings ratio of US insurance technology companies (GoHealth and SelectQuote) was 2.3 times/1.8 times, and China's healthcare service platforms (JD Health, Ping An Good Doctor, and Ali Health) were 7.5 times/5.4 times.
Goldman Sachs believes in its research report that promoting the development of long-term insurance products is Shuidi's most important strategic goal in the next 3-5 years. If successful, this will help mitigate the potential impact of falling commission rates on short-term insurance products while increasing their appeal to insurance company partners. Goldman Sachs conservatively estimates that the premiums for the first year of Water Drop Long Term Insurance in 2024 will increase to 13 billion yuan, accounting for 26%.
Goldman Sachs's target price for FY22/23 meant 4.1 times/2.9 times the price-earnings ratio for FY22/23, while the average price-earnings ratio of US insurance technology companies (GoHealth and SelectQuote) was 2.3 times/1.8 times, and China's healthcare service platforms (JD Health, Ping An Good Doctor, and Ali Health) were 7.5 times/5.4 times.
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