EverQuote, Inc. (NASDAQ:EVER – Get Free Report) shares were up 6.2% during trading on Monday . The company traded as high as $26.81 and last traded at $26.7950. 95,831 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 841,771 shares. The stock had previously closed at $25.24.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Zacks Research downgraded EverQuote from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a report on Wednesday, August 12th. Needham & Company LLC increased their price objective on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Raymond James Financial reissued an “outperform” rating and set a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. assumed coverage on EverQuote in a research report on Monday. They issued an “overweight” rating and a $29.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.17.
Check Out Our Latest Report on EVER
EverQuote Trading Up 6.1%
EverQuote (NASDAQ:EVER – Get Free Report) last posted 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 business had revenue of $195.09 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. Analysts anticipate that EverQuote, Inc. will post 1.72 EPS for the current year.
Insider Buying and Selling
In related news, CTO David Brainard sold 4,960 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $25.51, for a total transaction of $126,529.60. Following the completion of the sale, the chief technology officer directly owned 165,336 shares in the company, valued at $4,217,721.36. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the transaction, the chief accounting officer owned 74,580 shares in the company, valued at approximately $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 36,424 shares of company stock worth $854,506 in the last ninety days. Corporate insiders own 23.68% of the company’s stock.
Institutional Trading of EverQuote
Several hedge funds and other institutional investors have recently bought and sold shares of EVER. Vanguard Group Inc. boosted its stake in shares of EverQuote by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company’s stock valued at $59,980,000 after purchasing an additional 20,156 shares during the period. Renaissance Technologies LLC increased its stake in shares of EverQuote by 28.9% in the first quarter. Renaissance Technologies LLC now owns 941,467 shares of the company’s stock worth $14,517,000 after buying an additional 211,360 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in EverQuote by 47.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after buying an additional 293,160 shares during the last quarter. Lazard Asset Management LLC raised its holdings in EverQuote by 81.7% during the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock valued at $24,333,000 after buying an additional 405,237 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in EverQuote by 27.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 875,702 shares of the company’s stock valued at $23,644,000 after buying an additional 188,335 shares during the period. Institutional investors own 91.54% of the company’s stock.
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.
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