Brokerages Set EverQuote, Inc. (NASDAQ:EVER) Price Target at $34.00

Shares of EverQuote, Inc. (NASDAQ:EVER) have been assigned an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $34.00.

A number of analysts have commented on the stock. Wall Street Zen cut shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research note on Wednesday, October 8th. Needham & Company LLC upped their target price on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. raised their target price on EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th.

Insider Activity

In related news, CAO Jon Ayotte sold 3,639 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $26.76, for a total transaction of $97,379.64. Following the transaction, the chief accounting officer owned 49,233 shares in the company, valued at $1,317,475.08. The trade was a 6.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayme Mendal sold 14,360 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $27.25, for a total transaction of $391,310.00. Following the completion of the sale, the chief executive officer owned 438,052 shares of the company’s stock, valued at $11,936,917. The trade was a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 56,836 shares of company stock worth $1,358,539 in the last quarter. 25.52% of the stock is owned by corporate insiders.

Institutional Trading of EverQuote

Several large investors have recently made changes to their positions in EVER. Allspring Global Investments Holdings LLC raised its stake in shares of EverQuote by 37.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 475,691 shares of the company’s stock worth $10,546,000 after purchasing an additional 128,426 shares during the period. D.A. Davidson & CO. bought a new position in EverQuote during the third quarter valued at about $1,100,000. Acadian Asset Management LLC increased its holdings in EverQuote by 1.2% during the second quarter. Acadian Asset Management LLC now owns 866,481 shares of the company’s stock worth $20,939,000 after buying an additional 10,233 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in EverQuote in the second quarter worth about $715,000. Finally, Sigma Planning Corp raised its position in EverQuote by 212.5% in the second quarter. Sigma Planning Corp now owns 34,517 shares of the company’s stock worth $835,000 after acquiring an additional 23,472 shares during the period. 91.54% of the stock is currently owned by institutional investors and hedge funds.

EverQuote Stock Performance

NASDAQ:EVER opened at $26.34 on Friday. EverQuote has a fifty-two week low of $17.35 and a fifty-two week high of $30.03. The company has a 50 day simple moving average of $26.23 and a two-hundred day simple moving average of $24.32. The company has a market capitalization of $947.19 million, a PE ratio of 18.42 and a beta of 0.46.

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

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.