Needham & Company LLC Reiterates “Buy” Rating for EverQuote (NASDAQ:EVER)

EverQuote (NASDAQ:EVER)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $38.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 51.88% from the stock’s current price.

Separately, JPMorgan Chase & Co. increased their price objective on EverQuote from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $32.40.

EverQuote Stock Up 5.3%

EverQuote stock opened at $25.02 on Tuesday. The firm has a fifty day simple moving average of $24.63 and a two-hundred day simple moving average of $23.84. EverQuote has a twelve month low of $16.63 and a twelve month high of $30.03. The company has a market capitalization of $893.71 million, a PE ratio of 20.18 and a beta of 0.37.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $156.63 million for the quarter, compared to analyst estimates of $157.19 million. EverQuote had a net margin of 7.57% and a return on equity of 39.38%. The company’s revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. As a group, equities analysts expect that EverQuote will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other EverQuote news, CTO David Brainard sold 5,710 shares of EverQuote stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $24.57, for a total value of $140,294.70. Following the completion of the sale, the chief technology officer owned 128,720 shares of the company’s stock, valued at approximately $3,162,650.40. The trade was a 4.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph Sanborn sold 1,063 shares of EverQuote stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $24.13, for a total value of $25,650.19. Following the completion of the sale, the chief financial officer directly owned 261,390 shares of the company’s stock, valued at $6,307,340.70. The trade was a 0.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,162 shares of company stock valued at $1,524,781. Company insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in EverQuote by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock valued at $40,314,000 after purchasing an additional 24,347 shares during the period. Acadian Asset Management LLC lifted its stake in EverQuote by 13.2% in the 1st quarter. Acadian Asset Management LLC now owns 856,248 shares of the company’s stock worth $22,413,000 after purchasing an additional 99,743 shares in the last quarter. Toronado Partners LLC lifted its position in shares of EverQuote by 59.7% in the fourth quarter. Toronado Partners LLC now owns 718,774 shares of the company’s stock worth $14,368,000 after buying an additional 268,670 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of EverQuote by 39.6% during the 2nd quarter. Emerald Advisers LLC now owns 619,585 shares of the company’s stock valued at $14,982,000 after acquiring an additional 175,884 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of EverQuote in the 4th quarter worth $12,311,000. Institutional investors own 91.54% of the company’s stock.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.