EverQuote (NASDAQ:EVER) Stock Price Up 8.4% – Still a Buy?

EverQuote, Inc. (NASDAQ:EVER) shares shot up 8.4% during mid-day trading on Friday . The company traded as high as $23.07 and last traded at $23.5130. 113,787 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 882,379 shares. The stock had previously closed at $21.70.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EVER shares. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Zacks Research cut EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of EverQuote in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of EverQuote from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.17.

EverQuote Price Performance

The stock has a 50 day simple moving average of $18.73 and a two-hundred day simple moving average of $19.71. The company has a market cap of $839.28 million, a PE ratio of 7.94 and a beta of 0.65.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.08. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The company had revenue of $190.85 million for the quarter, compared to the consensus estimate of $180.10 million. During the same period last year, the firm posted $0.21 EPS. EverQuote’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities analysts anticipate that EverQuote, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at EverQuote

In other EverQuote news, CFO Joseph Sanborn sold 6,666 shares of EverQuote stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.28, for a total value of $128,520.48. Following the sale, the chief financial officer owned 327,820 shares of the company’s stock, valued at approximately $6,320,369.60. The trade was a 1.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David Brainard sold 9,942 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total value of $193,073.64. Following the transaction, the chief technology officer directly owned 180,493 shares in the company, valued at $3,505,174.06. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 41,814 shares of company stock valued at $829,255. Corporate insiders own 23.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in shares of 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 increased its stake 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 purchasing an additional 842 shares in the last quarter. NewEdge Advisors LLC purchased a new position in EverQuote during the third quarter worth $52,000. Clearstead Advisors LLC raised its stake in EverQuote by 70.5% in the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after purchasing an additional 826 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of EverQuote by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after buying an additional 2,381 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

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.