EverQuote (NASDAQ:EVER) Stock Jumps 5.9% – What’s Next?

EverQuote, Inc. (NASDAQ:EVER)’s stock price was up 5.9% on Wednesday. The stock traded as high as $20.03 and last traded at $20.03. Approximately 394,115 shares were traded during trading, a decline of 53% from the average daily volume of 843,056 shares. The stock had previously closed at $18.91.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EVER. B. Riley Financial reissued a “buy” rating and issued a $34.00 price target (up from $30.00) on shares of EverQuote in a research report on Tuesday, August 4th. Zacks Research lowered shares of EverQuote from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 target price on shares of EverQuote in a research report on Thursday, August 13th. Weiss Ratings raised shares of EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of EverQuote in a research note on Monday, August 24th. They issued an “overweight” rating and a $29.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, EverQuote presently has an average rating of “Moderate Buy” and a consensus price target of $28.17.

EverQuote Stock Performance

The company has a market cap of $732.49 million, a price-to-earnings ratio of 6.59 and a beta of 0.67. The company’s 50 day moving average price is $24.05 and its 200 day moving average price is $20.91.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The business had revenue of $195.09 million for the quarter, compared to the consensus estimate of $191.06 million. During the same period last year, the business earned $0.39 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year. On average, equities research analysts forecast that EverQuote, Inc. will post 1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 1,097 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.47, for a total transaction of $29,037.59. Following the completion of the sale, the chief technology officer directly owned 163,030 shares in the company, valued at $4,315,404.10. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mira Wilczek sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.07, for a total value of $238,165.00. Following the completion of the sale, the director directly owned 110,353 shares in the company, valued at $2,766,549.71. This trade represents a 7.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,413 shares of company stock valued at $1,455,965 in the last three months. Company insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in EverQuote by 47.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after purchasing an additional 293,160 shares during the period. Jacobs Asset Management LLC raised its position in shares of EverQuote by 199.9% during the first quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company’s stock valued at $6,219,000 after buying an additional 268,819 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of EverQuote by 28.9% during the first quarter. Renaissance Technologies LLC now owns 941,467 shares of the company’s stock valued at $14,517,000 after buying an additional 211,360 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of EverQuote by 37.7% in the first quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company’s stock valued at $10,728,000 after buying an additional 190,438 shares during the period. Finally, OP Asset Management Ltd bought a new stake in shares of EverQuote in the first quarter valued at about $2,410,000. Institutional investors own 91.54% of the company’s stock.

EverQuote Company Profile

EverQuote, Inc (NASDAQ: EVER) operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote’s marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.