EverQuote (NASDAQ:EVER) Shares Gap Up on Earnings Beat

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.31, but opened at $19.00. EverQuote shares last traded at $17.75, with a volume of 390,650 shares.

The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. EverQuote had a negative return on equity of 13.24% and a negative net margin of 8.55%. The business had revenue of $144.53 million during the quarter, compared to analysts’ expectations of $140.30 million. During the same period in the previous year, the business earned ($0.40) earnings per share. The business’s revenue was up 162.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

EVER has been the topic of several research analyst reports. Needham & Company LLC lifted their target price on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. B. Riley lowered their price objective on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on EverQuote from $34.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Craig Hallum raised their target price on EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $28.50.

Insider Buying and Selling

In other EverQuote news, Director George R. Neble sold 2,500 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $19.42, for a total value of $48,550.00. Following the completion of the sale, the director now owns 54,970 shares in the company, valued at approximately $1,067,517.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George R. Neble sold 2,500 shares of EverQuote stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $19.42, for a total transaction of $48,550.00. Following the transaction, the director now owns 54,970 shares in the company, valued at $1,067,517.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO David Brainard sold 3,164 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $22.02, for a total transaction of $69,671.28. Following the completion of the sale, the chief technology officer now directly owns 160,986 shares of the company’s stock, valued at $3,544,911.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,270 shares of company stock worth $431,011. 29.79% of the stock is owned by insiders.

Institutional Trading of EverQuote

Several institutional investors have recently made changes to their positions in EVER. Vanguard Group Inc. increased its stake in EverQuote by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock worth $21,487,000 after acquiring an additional 30,577 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of EverQuote by 127.6% during the 1st quarter. BNP Paribas Financial Markets now owns 54,755 shares of the company’s stock worth $1,016,000 after purchasing an additional 30,699 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock valued at $5,448,000 after buying an additional 293,404 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in EverQuote in the first quarter valued at about $2,167,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in EverQuote in the second quarter valued at about $782,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Price Performance

The company has a market cap of $669.33 million, a PE ratio of -22.71 and a beta of 1.06. The company’s 50 day simple moving average is $20.55 and its two-hundred day simple moving average is $21.79.

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.