EverQuote (NASDAQ:EVER) Reaches New 1-Year High – Here’s Why

EverQuote, Inc. (NASDAQ:EVER) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.97 and last traded at $28.40, with a volume of 80634 shares. The stock had previously closed at $28.71.

Analysts Set New Price Targets

Several research firms recently issued reports on EVER. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Thursday, December 26th. JPMorgan Chase & Co. increased their target price on shares of EverQuote from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Needham & Company LLC increased their target price on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group dropped their target price on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.33.

EverQuote Trading Down 0.4 %

The stock’s 50 day moving average price is $22.60 and its two-hundred day moving average price is $20.58. The firm has a market capitalization of $1.02 billion, a PE ratio of 84.13 and a beta of 1.01.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The business had revenue of $147.46 million during the quarter, compared to analysts’ expectations of $133.83 million. Analysts expect that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Transactions at EverQuote

In related news, CEO Jayme Mendal sold 65,117 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $28.07, for a total transaction of $1,827,834.19. Following the sale, the chief executive officer now owns 619,156 shares in the company, valued at approximately $17,379,708.92. This trade represents a 9.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jon Ayotte sold 7,647 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $25.72, for a total transaction of $196,680.84. Following the sale, the chief accounting officer now owns 58,045 shares in the company, valued at approximately $1,492,917.40. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,428 shares of company stock valued at $3,045,162 in the last ninety days. Corporate insiders own 29.79% of the company’s stock.

Institutional Trading of EverQuote

Hedge funds have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in EverQuote during the fourth quarter worth approximately $34,000. Quarry LP boosted its position in EverQuote by 100.7% during the third quarter. Quarry LP now owns 2,894 shares of the company’s stock worth $61,000 after acquiring an additional 1,452 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of EverQuote by 115.1% in the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock valued at $74,000 after purchasing an additional 1,874 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of EverQuote in the 4th quarter valued at $90,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of EverQuote by 80.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company’s stock valued at $90,000 after purchasing an additional 2,042 shares during the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

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.