Brokerages Set EverQuote, Inc. (NASDAQ:EVER) Price Target at $29.58

Shares of EverQuote, Inc. (NASDAQ:EVER) have received an average recommendation of “Buy” from the six research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is $29.58.

Several equities research analysts have issued reports on EVER shares. JPMorgan Chase & Co. lifted their price objective on EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Craig Hallum lifted their price objective on EverQuote from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Needham & Company LLC lifted their price objective on EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th.

EverQuote Stock Performance

EverQuote stock opened at $22.60 on Thursday. The stock’s 50 day moving average price is $23.29 and its 200 day moving average price is $21.28. The firm has a market capitalization of $792.81 million, a PE ratio of -16.03 and a beta of 1.04. EverQuote has a one year low of $6.05 and a one year high of $28.09.

EverQuote (NASDAQ:EVER) last released its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.03 by $0.14. The firm had revenue of $117.14 million for the quarter, compared to analyst estimates of $102.81 million. EverQuote had a negative return on equity of 13.24% and a negative net margin of 8.55%. EverQuote’s revenue for the quarter was up 72.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.31) EPS. On average, analysts forecast that EverQuote will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David B. Blundin sold 3,255 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $26.81, for a total value of $87,266.55. Following the completion of the sale, the director now directly owns 264,273 shares in the company, valued at approximately $7,085,159.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David B. Blundin sold 65,718 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $27.08, for a total transaction of $1,779,643.44. Following the completion of the transaction, the director now owns 192,305 shares in the company, valued at approximately $5,207,619.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Blundin sold 3,255 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $26.81, for a total value of $87,266.55. Following the transaction, the director now owns 264,273 shares of the company’s stock, valued at approximately $7,085,159.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,998 shares of company stock worth $3,356,708. 29.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its position in EverQuote by 389.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,703 shares of the company’s stock valued at $286,000 after purchasing an additional 10,903 shares during the period. Quarry LP boosted its position in EverQuote by 215.5% during the 2nd quarter. Quarry LP now owns 1,442 shares of the company’s stock worth $30,000 after acquiring an additional 985 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in EverQuote during the 2nd quarter worth $782,000. Driehaus Capital Management LLC boosted its position in EverQuote by 9.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,036,361 shares of the company’s stock worth $42,478,000 after acquiring an additional 169,333 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of EverQuote in the second quarter valued at $202,000. 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.