EverQuote (NASDAQ:EVER) Reaches New 1-Year High Following Earnings Beat

EverQuote, Inc. (NASDAQ:EVER) shares reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $23.73 and last traded at $23.50, with a volume of 303053 shares. The stock had previously closed at $21.36.

The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. EverQuote had a negative net margin of 17.81% and a negative return on equity of 34.38%. The company had revenue of $91.07 million during the quarter, compared to analysts’ expectations of $80.36 million. During the same period last year, the company posted ($0.08) EPS. EverQuote’s revenue was down 16.6% on a year-over-year basis.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday. Craig Hallum boosted their target price on EverQuote from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of EverQuote from $13.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. B. Riley boosted their price objective on shares of EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC raised their target price on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $26.25.

Insider Buying and Selling at EverQuote

In other EverQuote news, major shareholder Ventures Lllp Link sold 10,422 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $15.43, for a total transaction of $160,811.46. Following the sale, the insider now directly owns 1,858,407 shares of the company’s stock, valued at $28,675,220.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David B. Blundin sold 89,177 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $15.00, for a total transaction of $1,337,655.00. Following the completion of the transaction, the director now owns 802,589 shares in the company, valued at approximately $12,038,835. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Lllp Link sold 10,422 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $15.43, for a total transaction of $160,811.46. Following the sale, the insider now directly owns 1,858,407 shares of the company’s stock, valued at $28,675,220.01. The disclosure for this sale can be found here. Insiders sold 524,065 shares of company stock worth $9,544,076 over the last 90 days. 29.79% of the stock is owned by insiders.

Institutional Investors Weigh In On EverQuote

Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in EverQuote by 21.3% during the 3rd quarter. Acadian Asset Management LLC now owns 220,251 shares of the company’s stock valued at $1,592,000 after purchasing an additional 38,663 shares during the period. Earnest Partners LLC boosted its stake in shares of EverQuote by 44.2% during the third quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock valued at $13,980,000 after purchasing an additional 592,262 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in EverQuote by 9.0% during the third quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock valued at $4,009,000 after buying an additional 45,813 shares during the period. Gilbert & Cook Inc. bought a new position in EverQuote in the third quarter worth approximately $85,000. Finally, Raymond James & Associates lifted its holdings in EverQuote by 69.3% during the third quarter. Raymond James & Associates now owns 44,704 shares of the company’s stock worth $323,000 after buying an additional 18,295 shares during the period. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

EverQuote Trading Up 18.4 %

The firm has a market cap of $865.68 million, a P/E ratio of -16.42 and a beta of 0.85. The firm has a 50-day simple moving average of $18.38 and a 200-day simple moving average of $13.69.

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.