EverQuote (NASDAQ:EVER) Trading Up 8.4% – What’s Next?

Shares of EverQuote, Inc. (NASDAQ:EVER) rose 8.4% during mid-day trading on Friday . The company traded as high as $23.07 and last traded at $23.5130. 113,787 shares were traded during trading, a decline of 87% from the average session volume of 882,379 shares. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

EVER has been the subject of several recent analyst reports. Wall Street Zen raised shares of EverQuote from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of EverQuote in a report on Tuesday, May 5th. Zacks Research lowered EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

EverQuote Trading Up 7.3%

The firm has a market cap of $839.28 million, a PE ratio of 7.94 and a beta of 0.65. The business’s 50-day simple moving average is $18.73 and its 200 day simple moving average is $19.71.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The company had revenue of $190.85 million during the quarter, compared to analyst estimates of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.EverQuote’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Analysts expect that EverQuote, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at EverQuote

In other news, CTO David Brainard sold 9,942 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total transaction of $193,073.64. Following the sale, the chief technology officer owned 180,493 shares in the company, valued at approximately $3,505,174.06. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Sanborn sold 6,666 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.28, for a total transaction of $128,520.48. Following the sale, the chief financial officer directly owned 327,820 shares in the company, valued at approximately $6,320,369.60. This represents a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,814 shares of company stock valued at $829,255. 23.68% of the stock is owned by insiders.

Institutional Trading of EverQuote

Several large investors have recently added to or reduced their stakes in the company. Intrinsic Edge Capital Management LLC purchased a new position in shares of EverQuote during the 3rd quarter valued at approximately $1,830,000. SG Americas Securities LLC lifted its stake in EverQuote by 1,100.6% in the 4th quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock valued at $6,613,000 after buying an additional 224,535 shares in the last quarter. Legato Capital Management LLC boosted its stake in shares of EverQuote by 179.9% in the fourth quarter. Legato Capital Management LLC now owns 86,717 shares of the company’s stock worth $2,341,000 after acquiring an additional 55,741 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in EverQuote by 29.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,717 shares of the company’s stock worth $15,683,000 after purchasing an additional 141,026 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in EverQuote during the fourth quarter worth about $3,853,000. Hedge funds and other 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.