EverQuote (NASDAQ:EVER) Shares Gap Up – Time to Buy?

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped up before the market opened on Thursday . The stock had previously closed at $18.32, but opened at $19.36. EverQuote shares last traded at $19.80, with a volume of 98,542 shares traded.

Analyst Upgrades and Downgrades

EVER has been the subject of several recent analyst reports. Raymond James upgraded EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Thursday. 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 report on Tuesday, November 5th. Finally, B. Riley decreased their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.17.

EverQuote Stock Down 2.1 %

The firm has a market cap of $695.71 million, a PE ratio of 57.88 and a beta of 0.96. The firm has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $20.78.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The firm had revenue of $144.53 million during the quarter, compared to the consensus estimate of $140.30 million. During the same period in the prior year, the company earned ($0.40) EPS. The firm’s revenue was up 162.7% compared to the same quarter last year. Research analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at EverQuote

In related news, CTO David Brainard sold 14,590 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.44, for a total value of $254,449.60. Following the completion of the sale, the chief technology officer now owns 137,291 shares of the company’s stock, valued at approximately $2,394,355.04. This trade represents a 9.61 % 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 George R. Neble sold 2,500 shares of EverQuote stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $19.42, for a total value of $48,550.00. Following the transaction, the director now owns 54,970 shares in the company, valued at approximately $1,067,517.40. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,306 shares of company stock valued at $443,260. Corporate insiders own 29.79% of the company’s stock.

Institutional Investors Weigh In On EverQuote

Several hedge funds and other institutional investors have recently bought and sold shares of EVER. Gladius Capital Management LP purchased a new stake in shares of EverQuote in the 3rd quarter valued at approximately $26,000. Quarry LP grew its position in EverQuote by 215.5% in the second 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. nVerses Capital LLC acquired a new stake in EverQuote during the second quarter worth $35,000. Quantbot Technologies LP raised its position in EverQuote by 115.1% in the third 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 period. Finally, Meeder Asset Management Inc. acquired a new position in shares of EverQuote in the 2nd quarter valued at $76,000. 91.54% of the stock is currently 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.