EverQuote (NASDAQ:EVER) Trading Up 8% – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER) shares were up 8% during trading on Thursday . The stock traded as high as $18.99 and last traded at $19.4050. Approximately 38,019 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 913,459 shares. The stock had previously closed at $17.96.

Analysts Set New Price Targets

Several analysts have commented on EVER shares. JPMorgan Chase & Co. raised their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Raymond James Financial reissued an “outperform” rating and issued a $18.00 price objective on shares of EverQuote in a report on Tuesday, February 17th. Zacks Research lowered EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a report on Tuesday, May 5th. Finally, Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.17.

EverQuote Stock Up 7.2%

The stock has a market capitalization of $693.58 million, a PE ratio of 6.55 and a beta of 0.65. The company has a 50-day moving average of $17.25 and a 200 day moving average of $20.35.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $180.10 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities analysts predict that EverQuote, Inc. will post 2.06 EPS for the current fiscal year.

Insider Activity at EverQuote

In other EverQuote news, CTO David Brainard sold 9,942 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total transaction of $193,073.64. Following the transaction, the chief technology officer owned 180,493 shares of the company’s stock, valued at approximately $3,505,174.06. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Sanborn sold 20,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $20.70, for a total value of $414,000.00. Following the transaction, the chief financial officer directly owned 337,660 shares in the company, valued at $6,989,562. This trade represents a 5.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,148 shares of company stock valued at $700,735 over the last quarter. 23.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverQuote

Several large investors have recently modified their holdings of EVER. Comerica Bank lifted its stake in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after acquiring an additional 772 shares in the last quarter. Signature Equity Partners LLC lifted its stake in 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 acquiring an additional 842 shares in the last quarter. NewEdge Advisors LLC acquired a new position in EverQuote during the 3rd quarter worth about $52,000. Clearstead Advisors LLC lifted its stake in EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in EverQuote by 595.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after acquiring an additional 2,246 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.