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

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target 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 lifted their price target on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Raymond James upgraded shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Thursday, December 26th. Finally, Canaccord Genuity Group cut their target price on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EverQuote presently has a consensus rating of “Buy” and an average target price of $32.33.

EverQuote Trading Down 0.4 %

The stock’s 50 day moving average price is $22.60 and its 200 day moving average price is $20.58. The firm has a market cap of $1.02 billion, a PE ratio of 84.13 and a beta of 1.01.

EverQuote (NASDAQ:EVER) last released its quarterly earnings results on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.18. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The firm had revenue of $147.46 million for the quarter, compared to the consensus estimate of $133.83 million. Analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Jon Ayotte sold 7,647 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $25.72, for a total value of $196,680.84. Following the completion of the sale, the chief accounting officer now owns 58,045 shares of the company’s stock, valued at approximately $1,492,917.40. The trade was a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Brainard sold 29,248 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $19.93, for a total transaction of $582,912.64. Following the completion of the sale, the chief technology officer now directly owns 116,212 shares of the company’s stock, valued at $2,316,105.16. The trade was a 20.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,428 shares of company stock valued at $3,045,162 in the last quarter. Company insiders own 29.79% of the company’s stock.

Institutional Investors Weigh In On EverQuote

Several hedge funds and other institutional investors have recently modified their holdings of EVER. California State Teachers Retirement System boosted its holdings in shares of EverQuote by 11.8% in the 4th quarter. California State Teachers Retirement System now owns 24,781 shares of the company’s stock valued at $495,000 after buying an additional 2,624 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of EverQuote by 65.3% in the 4th quarter. Mackenzie Financial Corp now owns 104,303 shares of the company’s stock valued at $2,085,000 after buying an additional 41,222 shares during the period. Warm Springs Advisors Inc. acquired a new position in shares of EverQuote in the 4th quarter valued at about $1,499,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of EverQuote by 34.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,500 shares of the company’s stock valued at $950,000 after buying an additional 12,118 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of EverQuote by 47.2% in the 4th quarter. Squarepoint Ops LLC now owns 371,595 shares of the company’s stock valued at $7,428,000 after buying an additional 119,189 shares during the period. Institutional investors 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.