EverQuote (NASDAQ:EVER) Price Target Raised to $32.00

EverQuote (NASDAQ:EVER) had its target price increased by JPMorgan Chase & Co. from $30.00 to $32.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research report on Wednesday, October 8th. Finally, Needham & Company LLC lifted their price target on shares of EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.25.

EverQuote Stock Up 0.2%

Shares of NASDAQ:EVER opened at $27.74 on Friday. The firm has a market cap of $997.53 million, a price-to-earnings ratio of 19.40 and a beta of 0.45. EverQuote has a 12 month low of $16.63 and a 12 month high of $30.03. The company’s fifty day simple moving average is $23.75 and its 200 day simple moving average is $24.01.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. The firm had revenue of $173.94 million during the quarter, compared to analysts’ expectations of $166.09 million. EverQuote had a return on equity of 38.19% and a net margin of 8.36%.The company’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. Research analysts expect that EverQuote will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO David Brainard sold 1,291 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $26.40, for a total value of $34,082.40. Following the sale, the chief technology officer directly owned 112,661 shares of the company’s stock, valued at approximately $2,974,250.40. This represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $20.78, for a total transaction of $41,560.00. Following the completion of the sale, the director owned 27,219 shares of the company’s stock, valued at $565,610.82. This trade represents a 6.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 58,833 shares of company stock valued at $1,341,247. 25.52% of the stock is owned by insiders.

Institutional Trading of EverQuote

Hedge funds have recently made changes to their positions in the business. Comerica Bank raised its stake in EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares during the period. Versant Capital Management Inc boosted its position in EverQuote by 108.9% during the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after purchasing an additional 601 shares during the period. NewEdge Advisors LLC acquired a new position in shares of EverQuote in the third quarter valued at $52,000. Jones Financial Companies Lllp raised its position in shares of EverQuote by 595.8% in the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after purchasing an additional 2,246 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of EverQuote by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock worth $68,000 after buying an additional 573 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

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.