Baldwin Insurance Group's stock surged 6.06% during pre-market trading on Friday, following the release of its quarterly earnings report that exceeded analyst expectations.

The company reported adjusted earnings of 31 cents per share for the quarter ended December 31, beating the mean analyst estimate of 29 cents per share. This represents an improvement from the 27 cents per share reported in the same quarter last year. Revenue also surpassed expectations, rising 5.3% year-over-year to $365.39 million compared to the anticipated $352.28 million.

Despite reporting a quarterly loss of $25.86 million, the better-than-expected adjusted earnings and revenue growth appear to have boosted investor confidence. Analyst sentiment remains positive with a current average rating of "buy" and a median 12-month price target of $35.50, representing approximately 47.9% upside from the last closing price of $18.49.