EverQuote (NASDAQ:EVER) Shares Gap Up Following Strong Earnings

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.15, but opened at $26.25. EverQuote shares last traded at $25.70, with a volume of 702,887 shares trading hands.

The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The firm had revenue of $147.46 million for the quarter, compared to analysts’ expectations of $133.83 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EVER. Needham & Company LLC increased their target price on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley lowered their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Raymond James upgraded EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Thursday, December 26th. Finally, Canaccord Genuity Group cut their price target on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.67.

Insider Buying and Selling

In other EverQuote news, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the transaction, the director now owns 28,515 shares in the company, valued at approximately $570,300. The trade was a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO David Brainard sold 29,248 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $19.93, for a total value of $582,912.64. Following the sale, the chief technology officer now owns 116,212 shares of the company’s stock, valued at $2,316,105.16. This trade represents a 20.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,568 shares of company stock valued at $1,203,872 over the last 90 days. 29.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverQuote

A number of institutional investors and hedge funds have recently modified their holdings of EVER. Mackenzie Financial Corp increased its stake in EverQuote by 65.3% in the 4th quarter. Mackenzie Financial Corp now owns 104,303 shares of the company’s stock worth $2,085,000 after purchasing an additional 41,222 shares in the last quarter. Warm Springs Advisors Inc. purchased a new position in shares of EverQuote in the fourth quarter worth approximately $1,499,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of EverQuote by 34.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,500 shares of the company’s stock valued at $950,000 after acquiring an additional 12,118 shares during the period. Squarepoint Ops LLC lifted its position in shares of EverQuote by 47.2% in the 4th quarter. Squarepoint Ops LLC now owns 371,595 shares of the company’s stock valued at $7,428,000 after acquiring an additional 119,189 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in EverQuote by 59.7% in the 4th quarter. Two Sigma Advisers LP now owns 52,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 19,700 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.

EverQuote Stock Performance

The business’s 50 day moving average is $19.74 and its 200 day moving average is $20.07. The stock has a market cap of $905.20 million, a price-to-earnings ratio of 75.60 and a beta of 0.96.

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.