EverQuote (NASDAQ:EVER) Trading 7.7% Higher – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER) shot up 7.7% during trading on Tuesday . The stock traded as high as $21.30 and last traded at $21.64. 212,450 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 432,335 shares. The stock had previously closed at $20.09.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EVER. B. Riley lowered their price objective on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Thursday, December 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $31.67.

EverQuote Price Performance

The business’s 50 day moving average is $18.86 and its 200-day moving average is $20.46. The company has a market cap of $764.62 million, a PE ratio of 63.62 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The company had revenue of $144.53 million during the quarter, compared to the consensus estimate of $140.30 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The firm’s quarterly revenue was up 162.7% on a year-over-year basis. As a group, sell-side analysts predict that EverQuote, Inc. will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 29,248 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $19.93, for a total transaction of $582,912.64. Following the sale, the chief technology officer now owns 116,212 shares of the company’s stock, valued at approximately $2,316,105.16. This trade represents a 20.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.00, for a total transaction of $40,000.00. Following the sale, the director now directly owns 28,515 shares in the company, valued at approximately $570,300. The trade was a 6.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,668 shares of company stock valued at $1,045,134. 29.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

A number of institutional investors have recently modified their holdings of the business. Emerald Advisers LLC increased its holdings in shares of EverQuote by 165.8% in the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after acquiring an additional 399,257 shares during the period. Geode Capital Management LLC increased its holdings in shares of EverQuote by 10.4% in the 3rd quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock valued at $12,554,000 after acquiring an additional 56,114 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in shares of EverQuote by 572.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 504,081 shares of the company’s stock valued at $10,631,000 after acquiring an additional 429,084 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of EverQuote by 3,022.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 385,629 shares of the company’s stock valued at $8,133,000 after acquiring an additional 373,280 shares during the period. Finally, Jacobs Asset Management LLC increased its holdings in shares of EverQuote by 50.1% in the 3rd quarter. Jacobs Asset Management LLC now owns 249,840 shares of the company’s stock valued at $5,269,000 after acquiring an additional 83,419 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.

About EverQuote

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.