EverQuote (NASDAQ:EVER) Shares Up 6.2% – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER) shares traded up 6.2% on Monday . The stock traded as high as $26.81 and last traded at $26.7950. Approximately 95,831 shares were traded during trading, a decline of 89% from the average daily volume of 841,771 shares. The stock had previously closed at $25.24.

Analysts Set New Price Targets

Several research firms recently issued reports on EVER. Needham & Company LLC upped their price objective on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. assumed coverage on EverQuote in a research note on Monday. They issued an “overweight” rating and a $29.00 price target for the company. B. Riley Financial reaffirmed a “buy” rating and set a $34.00 price target (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $28.00 price objective on shares of EverQuote in a research report on Thursday, August 13th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, EverQuote currently has an average rating of “Moderate Buy” and an average price target of $28.17.

EverQuote Stock Up 0.9%

The company’s fifty day moving average is $24.52 and its 200-day moving average is $19.65. The company has a market cap of $967.41 million, a PE ratio of 8.72 and a beta of 0.62.

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

Insider Transactions at EverQuote

In related news, CAO Jon Ayotte sold 4,611 shares of EverQuote stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the sale, the chief accounting officer owned 74,580 shares of the company’s stock, valued at $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 6,667 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $25.51, for a total value of $170,075.17. Following the sale, the chief financial officer owned 305,241 shares of the company’s stock, valued at approximately $7,786,697.91. This trade represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 34,439 shares of company stock worth $816,704. 23.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverQuote

Institutional investors have recently made changes to their positions in the business. Comerica Bank grew its position in EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after buying an additional 772 shares during the period. Signature Equity Partners LLC raised its position in EverQuote by 65.5% in the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after acquiring an additional 842 shares during the period. NewEdge Advisors LLC bought a new position in EverQuote in the third quarter worth approximately $52,000. Clearstead Advisors LLC boosted its stake in shares of 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 during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of EverQuote by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock worth $79,000 after acquiring an additional 2,381 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

About EverQuote

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.