EverQuote (NASDAQ:EVER) Price Target Raised to $30.00

EverQuote (NASDAQ:EVER) had its target price raised by JPMorgan Chase & Co. from $29.00 to $30.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of EverQuote in a report on Tuesday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $32.50.

EverQuote Price Performance

NASDAQ:EVER opened at $23.22 on Tuesday. The firm has a market capitalization of $829.55 million, a P/E ratio of 68.30 and a beta of 0.45. EverQuote has a one year low of $16.63 and a one year high of $30.03. The company’s 50-day simple moving average is $24.54 and its 200 day simple moving average is $21.30.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.18. The company had revenue of $147.46 million for the quarter, compared to the consensus estimate of $133.83 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. On average, equities research analysts expect that EverQuote will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverQuote news, CTO David Brainard sold 6,609 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $21.49, for a total transaction of $142,027.41. Following the completion of the sale, the chief technology officer now directly owns 156,783 shares of the company’s stock, valued at approximately $3,369,266.67. This represents a 4.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ventures Lllp Link sold 1,022 shares of EverQuote stock in a transaction on Monday, March 24th. The stock was sold at an average price of $28.75, for a total transaction of $29,382.50. Following the transaction, the insider now owns 3,498,667 shares in the company, valued at $100,586,676.25. This represents a 0.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 193,967 shares of company stock valued at $5,278,231 over the last 90 days. Company insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers purchased a new position in shares of EverQuote during the 1st quarter valued at about $407,000. Legato Capital Management LLC increased its stake in shares of EverQuote by 75.4% in the first quarter. Legato Capital Management LLC now owns 55,308 shares of the company’s stock worth $1,449,000 after purchasing an additional 23,781 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of EverQuote during the 1st quarter valued at $441,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of EverQuote during the 1st quarter valued at $1,523,000. Finally, Sigma Planning Corp bought a new position in EverQuote in the 1st quarter worth $289,000. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.