EverQuote (NASDAQ:EVER) Now Covered by JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. started coverage on shares of EverQuote (NASDAQ:EVER) in a research report issued to clients and investors on Monday. The brokerage set an “overweight” rating and a $29.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 7.71% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on EVER. Wall Street Zen downgraded EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. B. Riley Financial restated a “buy” rating and set a $34.00 price objective (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research note on Wednesday, August 12th. Finally, Needham & Company LLC increased 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, August 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, EverQuote has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

EverQuote Price Performance

NASDAQ:EVER traded up $1.68 during mid-day trading on Monday, reaching $26.92. The stock had a trading volume of 90,363 shares, compared to its average volume of 841,757. The company has a market capitalization of $970.07 million, a price-to-earnings ratio of 8.70 and a beta of 0.62. EverQuote has a 1-year low of $13.88 and a 1-year high of $28.73. The stock’s 50 day simple moving average is $24.26 and its two-hundred day simple moving average is $19.53.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The firm had revenue of $195.09 million during the quarter, compared to analyst estimates of $191.06 million. During the same period in the previous year, the company earned $0.39 earnings per share. EverQuote’s quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts anticipate that EverQuote will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director George R. Neble sold 2,456 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.64, for a total transaction of $60,515.84. Following the completion of the transaction, the director directly owned 58,140 shares of the company’s stock, valued at approximately $1,432,569.60. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the sale, the chief accounting officer owned 74,580 shares in the company, valued at $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 36,424 shares of company stock valued at $854,506 over the last three months. 23.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverQuote

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

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.