EverQuote (NASDAQ:EVER) Shares Gap Down – Time to Sell?

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped down before the market opened on Tuesday . The stock had previously closed at $24.10, but opened at $22.39. EverQuote shares last traded at $23.3650, with a volume of 256,761 shares traded.

Wall Street Analysts Forecast Growth

EVER has been the topic of several research reports. Wall Street Zen raised shares of EverQuote from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Needham & Company LLC lifted their price target on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Finally, B. Riley Financial reissued a “buy” rating and issued a $34.00 target price (up from $30.00) on shares of EverQuote in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, EverQuote currently has an average rating of “Moderate Buy” and an average price target of $25.67.

EverQuote Trading Down 1.2%

The firm’s 50 day simple moving average is $22.96 and its 200-day simple moving average is $19.43. The stock has a market capitalization of $849.23 million, a price-to-earnings ratio of 7.65 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The company 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 52.53%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. As a group, equities research analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Insider Activity at EverQuote

In other news, CFO Joseph Sanborn sold 6,667 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total transaction of $164,208.21. Following the sale, the chief financial officer owned 311,908 shares in the company, valued at $7,682,294.04. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 directly owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. The trade was a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 27,586 shares of company stock valued at $629,114. Insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

A number of large investors have recently added to or reduced their stakes in EVER. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of EverQuote by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after acquiring an additional 624 shares during the period. Cetera Investment Advisers increased its position in shares of EverQuote by 4.3% in the second quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock worth $392,000 after purchasing an additional 675 shares during the period. Comerica Bank raised its stake in EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after purchasing an additional 772 shares in the last quarter. Legal & General Group Plc raised its stake in EverQuote by 3.3% in the third quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock valued at $556,000 after purchasing an additional 776 shares in the last quarter. Finally, Zacks Investment Management lifted its position in EverQuote by 1.2% during the fourth quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock worth $1,790,000 after purchasing an additional 782 shares during the period. Institutional investors and hedge funds own 91.54% of the company’s stock.

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.