EverQuote (NASDAQ:EVER) Shares Gap Up – Should You Buy?

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped up before the market opened on Monday . The stock had previously closed at $17.57, but opened at $19.03. EverQuote shares last traded at $20.63, with a volume of 355,506 shares.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EVER. JPMorgan Chase & Co. dropped their target price on shares of EverQuote from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Raymond James raised EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Thursday, December 26th. Finally, B. Riley lowered their price target on EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, EverQuote presently has an average rating of “Buy” and an average price target of $31.67.

EverQuote Stock Up 20.0 %

The business’s 50-day simple moving average is $18.68 and its two-hundred day simple moving average is $20.56. The firm has a market capitalization of $745.50 million, a price-to-earnings ratio of 62.03 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The business had revenue of $144.53 million during the quarter, compared to analysts’ expectations of $140.30 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The company’s revenue was up 162.7% on a year-over-year basis. Sell-side analysts anticipate that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling at EverQuote

In related news, CTO David Brainard sold 14,590 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.44, for a total transaction of $254,449.60. Following the completion of the sale, the chief technology officer now owns 137,291 shares in the company, valued at $2,394,355.04. The trade was a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 52,668 shares of company stock valued at $1,005,134 in the last 90 days. Company insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of EverQuote by 255.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 240,482 shares of the company’s stock worth $5,072,000 after buying an additional 172,785 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in EverQuote by 636.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,729 shares of the company’s stock valued at $2,209,000 after acquiring an additional 90,500 shares during the period. Geode Capital Management LLC raised its stake in EverQuote by 10.4% during the 3rd quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock valued at $12,554,000 after acquiring an additional 56,114 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in EverQuote during the 2nd quarter worth approximately $782,000. Finally, Barclays PLC grew its stake in shares of EverQuote by 331.2% in the 3rd quarter. Barclays PLC now owns 50,983 shares of the company’s stock valued at $1,076,000 after purchasing an additional 39,160 shares during the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

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.