Wells Fargo & Company Forecasts Strong Price Appreciation for Everest Group (NYSE:EG) Stock

Everest Group (NYSE:EG) had its price target lifted by Wells Fargo & Company from $356.00 to $373.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 0.54% from the company’s current price.

Several other brokerages have also recently issued reports on EG. Morgan Stanley boosted their price target on shares of Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday. BMO Capital Markets lifted their price objective on Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a report on Friday, May 22nd. UBS Group set a $355.00 target price on Everest Group in a research report on Thursday, May 21st. Finally, Cantor Fitzgerald lifted their price target on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $380.14.

Everest Group Trading Down 0.1%

Shares of EG stock traded down $0.29 during trading hours on Thursday, reaching $371.00. The company’s stock had a trading volume of 208,378 shares, compared to its average volume of 379,832. The stock has a market capitalization of $14.68 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.57 and a beta of 0.29. Everest Group has a one year low of $302.44 and a one year high of $379.21. The firm’s fifty day simple moving average is $346.65 and its 200 day simple moving average is $337.12. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last announced its earnings results on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The company had revenue of $4.07 billion during the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. Equities research analysts expect that Everest Group will post 52.77 EPS for the current year.

Insider Transactions at Everest Group

In other news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer directly owned 8,170 shares in the company, valued at $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Everest Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Activest Wealth Management purchased a new stake in Everest Group during the fourth quarter valued at approximately $34,000. Raiffeisen Bank International AG purchased a new stake in shares of Everest Group in the fourth quarter worth about $34,000. Cullen Frost Bankers Inc. bought a new position in shares of Everest Group during the 4th quarter valued at approximately $37,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Everest Group during the 2nd quarter valued at about $39,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Everest Group in the 2nd quarter worth approximately $43,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

About Everest Group

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.