EverQuote (NASDAQ:EVER) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of EverQuote (NASDAQ:EVER) in a research report sent to investors on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $29.00 price target on the stock.

A number of other equities research analysts have also issued reports on EVER. Needham & Company LLC upped their target price on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a research note on Wednesday, August 12th. Raymond James Financial restated an “outperform” rating and set a $28.00 price objective on shares of EverQuote in a research note on Thursday, August 13th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.17.

EverQuote Trading Down 2.9%

Shares of NASDAQ:EVER opened at $26.08 on Monday. The firm has a market cap of $939.66 million, a PE ratio of 8.47 and a beta of 0.62. The company has a fifty day simple moving average of $24.64 and a 200 day simple moving average of $19.71. EverQuote has a 12-month low of $13.88 and a 12-month high of $28.73.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $195.09 million for 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 50.29%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. As a group, equities research analysts forecast that EverQuote will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling at EverQuote

In other news, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total value of $111,355.65. Following the transaction, the chief accounting officer directly owned 74,580 shares in the company, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George R. Neble sold 2,456 shares of EverQuote stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.64, for a total transaction of $60,515.84. Following the completion of the transaction, the director directly owned 58,140 shares of the company’s stock, valued at $1,432,569.60. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 34,439 shares of company stock valued at $816,704. Corporate insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors have recently made changes to their positions in EVER. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in EverQuote by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after purchasing an additional 624 shares in the last quarter. Cetera Investment Advisers boosted its stake in EverQuote by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock valued at $392,000 after purchasing an additional 675 shares in the last quarter. Comerica Bank raised its stake in shares of EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 772 shares in the last quarter. Legal & General Group Plc raised its stake in shares of EverQuote by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock worth $556,000 after buying an additional 776 shares in the last quarter. Finally, Zacks Investment Management lifted its holdings in shares of EverQuote by 1.2% in the fourth quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock valued at $1,790,000 after buying an additional 782 shares during the period. 91.54% of the stock is owned by institutional investors.

About EverQuote

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.