EverQuote (NASDAQ:EVER) Trading Up 8% – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER) shares traded up 8% during mid-day trading on Thursday . The stock traded as high as $18.99 and last traded at $19.4050. 38,019 shares were traded during trading, a decline of 96% from the average session volume of 913,459 shares. The stock had previously closed at $17.96.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of EverQuote in a research note on Tuesday, May 5th. Canaccord Genuity Group reduced their price target on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Zacks Research lowered EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of EverQuote in a research report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

EverQuote Trading Up 7.2%

The firm has a market cap of $693.58 million, a PE ratio of 6.55 and a beta of 0.65. The business has a fifty day moving average price of $17.25 and a 200 day moving average price of $20.35.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The business had revenue of $190.85 million for the quarter, compared to the consensus estimate of $180.10 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, research analysts expect that EverQuote, Inc. will post 2.06 earnings per share for the current fiscal year.

Insider Transactions at EverQuote

In other news, CFO Joseph Sanborn sold 20,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $20.70, for a total value of $414,000.00. Following the transaction, the chief financial officer owned 337,660 shares in the company, valued at approximately $6,989,562. This represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David Brainard sold 9,942 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total value of $193,073.64. Following the completion of the transaction, the chief technology officer owned 180,493 shares in the company, valued at approximately $3,505,174.06. The trade was a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 35,148 shares of company stock worth $700,735. Company insiders own 23.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in EverQuote by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company’s stock worth $59,980,000 after buying an additional 20,156 shares during the last quarter. Renaissance Technologies LLC grew its stake in EverQuote by 28.9% during the 1st quarter. Renaissance Technologies LLC now owns 941,467 shares of the company’s stock worth $14,517,000 after buying an additional 211,360 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in EverQuote by 47.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock worth $13,412,000 after buying an additional 293,160 shares during the last quarter. Lazard Asset Management LLC grew its stake in EverQuote by 81.7% during the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after buying an additional 405,237 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in EverQuote by 27.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 875,702 shares of the company’s stock worth $23,644,000 after buying an additional 188,335 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

About EverQuote

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.