EverQuote (NASDAQ:EVER) Stock Crosses Above Fifty Day Moving Average – Here’s Why

EverQuote, Inc. (NASDAQ:EVER – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $22.37 and traded as high as $23.17. EverQuote shares last traded at $22.80, with a volume of 823,915 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on EVER. B. Riley Financial reiterated a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Wall Street Zen cut shares of EverQuote from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. JPMorgan Chase & Co. began coverage on shares of EverQuote in a research report on Monday, August 24th. They issued an “overweight” rating and a $29.00 price target for the company. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price target on shares of EverQuote in a research note on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, EverQuote currently has an average rating of “Moderate Buy” and a consensus price target of $28.17.

Read Our Latest Report on EVER

EverQuote Stock Performance

The stock’s fifty day moving average price is $22.34 and its two-hundred day moving average price is $20.53. The company has a market cap of $847.07 million, a P/E ratio of 7.63 and a beta of 0.68.

EverQuote (NASDAQ:EVER – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $191.06 million. During the same period last year, the firm posted $0.39 earnings per share. The firm’s quarterly 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 year.

Insider Activity at EverQuote

In other EverQuote news, CEO Jayme Mendal sold 20,981 shares of EverQuote stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $24.27, for a total value of $509,208.87. Following the transaction, the chief executive officer owned 591,160 shares in the company, valued at $14,347,453.20. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mira Wilczek sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.07, for a total value of $238,165.00. Following the transaction, the director directly owned 110,353 shares of the company’s stock, valued at approximately $2,766,549.71. The trade was a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,681 shares of company stock worth $1,730,822 in the last three months. Insiders own 23.68% of the company’s stock.

Institutional Investors Weigh In On EverQuote

A number of hedge funds have recently made changes to their positions in the stock. Signature Equity Partners LLC raised its stake in EverQuote by 65.5% during the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after buying an additional 842 shares during the last quarter. Allworth Financial LP grew its stake in EverQuote by 63.7% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $61,000 after purchasing an additional 997 shares during the period. Sigma Planning Corp increased its holdings in EverQuote by 11.9% in the first quarter. Sigma Planning Corp now owns 10,560 shares of the company’s stock worth $163,000 after purchasing an additional 1,125 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of EverQuote by 4.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,299 shares of the company’s stock worth $673,000 after buying an additional 1,187 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of EverQuote by 3.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 37,732 shares of the company’s stock worth $898,000 after buying an additional 1,278 shares during the period. 91.54% of the stock is currently owned by institutional investors and hedge funds.

About EverQuote

(Get Free Report)

EverQuote, Inc operates an online marketplace that connects consumers seeking insurance with insurance providers and distribution partners. The company uses technology, data, and digital marketing to help consumers compare insurance options and obtain quotes.

Its platform has primarily focused on auto insurance, while also supporting other insurance categories, including home and renters insurance. EverQuote generates business by providing insurance carriers and agents with consumer referrals and opportunities to reach people who are actively shopping for coverage.

Founded in 2010 and headquartered in Cambridge, Massachusetts, EverQuote serves the United States insurance market.

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