EverQuote (NASDAQ:EVER) Shares Up 6.2% – Should You Buy?

EverQuote, Inc. (NASDAQ:EVER) rose 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 mid-day trading, a decline of 89% from the average session volume of 841,771 shares. The stock had previously closed at $25.24.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a report on Wednesday, August 12th. B. Riley Financial reaffirmed a “buy” rating and set a $34.00 target price (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. Raymond James Financial reiterated an “outperform” rating and set a $28.00 price target on shares of EverQuote in a research report on Thursday, August 13th. JPMorgan Chase & Co. began coverage on shares of EverQuote in a report on Monday. They issued an “overweight” rating and a $29.00 price target on the stock. Finally, Needham & Company LLC increased their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.17.

EverQuote Stock Performance

The business’s 50-day moving average price is $24.26 and its 200 day moving average price is $19.53. The stock has a market capitalization of $965.10 million, a PE ratio of 8.69 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share 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 firm had revenue of $195.09 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Jon Ayotte sold 4,611 shares of EverQuote stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total transaction of $111,355.65. Following the completion of the sale, the chief accounting officer owned 74,580 shares in the company, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.51, for a total value of $170,075.17. Following the transaction, the chief financial officer directly owned 305,241 shares of the company’s stock, valued at $7,786,697.91. The trade was a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,424 shares of company stock valued at $854,506 in the last ninety days. Corporate insiders own 23.68% of the company’s stock.

Institutional Investors Weigh In On EverQuote

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System grew its stake in EverQuote by 2,495.5% in the 2nd quarter. California State Teachers Retirement System now owns 727,593 shares of the company’s stock worth $17,309,000 after buying an additional 699,560 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of EverQuote by 4.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,299 shares of the company’s stock worth $673,000 after buying an additional 1,187 shares during the last quarter. Globeflex Capital L P purchased a new stake in shares of EverQuote during the 2nd quarter valued at $1,189,000. Great Lakes Advisors LLC purchased a new stake in shares of EverQuote during the 2nd quarter valued at $2,511,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of EverQuote during the 2nd quarter valued at $2,344,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.