EverQuote (NASDAQ:EVER) Stock Price Up 5.9% – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER) shares traded up 5.9% on Wednesday. The company traded as high as $20.03 and last traded at $20.03. 394,115 shares changed hands during trading, a decline of 53% from the average daily volume of 843,056 shares. The stock had previously closed at $18.91.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on EverQuote in a research note on Monday, August 24th. They set an “overweight” rating and a $29.00 target price on the stock. Wall Street Zen cut EverQuote from a “buy” rating to a “hold” rating in a research note on Sunday, September 20th. Weiss Ratings upgraded EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Zacks Research lowered shares of EverQuote from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and set a $28.00 price objective on shares of EverQuote in a research report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, EverQuote currently has a consensus rating of “Moderate Buy” and an average price target of $28.17.

EverQuote Stock Down 0.4%

The firm’s fifty day moving average is $23.86 and its 200-day moving average is $20.96. The stock has a market capitalization of $719.88 million, a PE ratio of 6.49 and a beta of 0.68.

EverQuote (NASDAQ:EVER) last issued its earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The company had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. During the same period in the previous year, the firm earned $0.39 EPS. The business’s revenue was up 24.6% on a year-over-year basis. On average, analysts expect that EverQuote, Inc. will post 1.72 EPS for the current year.

Insider Buying and Selling

In related news, Director Mira Wilczek sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.07, for a total value of $238,165.00. Following the sale, the director directly owned 110,353 shares in the company, valued at $2,766,549.71. The trade was a 7.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayme Mendal sold 20,981 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $24.27, for a total transaction of $509,208.87. Following the completion of the sale, the chief executive officer directly owned 591,160 shares in the company, valued at approximately $14,347,453.20. The trade was a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 58,413 shares of company stock valued at $1,455,965 in the last three months. 23.68% of the stock is owned by insiders.

Hedge Funds Weigh In On EverQuote

Several large investors have recently added to or reduced their stakes in the business. Signature Equity Partners LLC increased its holdings in shares of EverQuote by 65.5% during the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after buying an additional 842 shares during the last quarter. Allworth Financial LP raised its position in shares of EverQuote by 63.7% in the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $61,000 after buying an additional 997 shares during the period. Sigma Planning Corp boosted its holdings in EverQuote by 11.9% in the first quarter. Sigma Planning Corp now owns 10,560 shares of the company’s stock valued at $163,000 after acquiring an additional 1,125 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in EverQuote by 4.4% in the second quarter. Concurrent Investment Advisors LLC now owns 28,299 shares of the company’s stock valued at $673,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in EverQuote by 3.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,732 shares of the company’s stock valued at $898,000 after acquiring an additional 1,278 shares during the period. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

EverQuote Company Profile

EverQuote, Inc (NASDAQ: EVER) operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote’s marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.