EverQuote, Inc. (NASDAQ:EVER – Get Free Report)’s stock price rose 8% on Thursday . The company traded as high as $18.99 and last traded at $19.4050. Approximately 38,019 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 913,459 shares. The stock had previously closed at $17.96.
Wall Street Analysts Forecast Growth
EVER has been the topic of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $18.00 price target on shares of EverQuote in a report on Tuesday, February 17th. Zacks Research downgraded shares of EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. Craig Hallum reissued a “buy” rating and issued a $20.00 price target on shares of EverQuote in a report on Tuesday, February 24th. Finally, Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, EverQuote presently has an average rating of “Moderate Buy” and an average price target of $24.17.
Check Out Our Latest Research Report on EVER
EverQuote Trading Up 0.5%
EverQuote (NASDAQ:EVER – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $190.85 million for the quarter, compared to analysts’ expectations of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, analysts anticipate that EverQuote, Inc. will post 2.06 EPS for the current fiscal year.
Insider Activity
In other EverQuote news, CFO Joseph Sanborn sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $20.70, for a total transaction of $414,000.00. Following the sale, the chief financial officer directly owned 337,660 shares of the company’s stock, valued at $6,989,562. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO David Brainard sold 9,942 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total transaction of $193,073.64. Following the sale, the chief technology officer directly owned 180,493 shares in the company, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 35,148 shares of company stock worth $700,735. Insiders own 23.68% of the company’s stock.
Institutional Investors Weigh In On EverQuote
Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in EverQuote by 235.4% during 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 during the last quarter. Signature Equity Partners LLC lifted its holdings in EverQuote by 65.5% during the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after purchasing an additional 842 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in EverQuote during the third quarter valued at about $52,000. Clearstead Advisors LLC lifted its holdings in EverQuote by 70.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after purchasing an additional 826 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of EverQuote by 595.8% during the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after buying an additional 2,246 shares during the period. 91.54% of the stock is owned by hedge funds and other 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.
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