JPMorgan Chase & Co. Forecasts Strong Price Appreciation for EverQuote (NASDAQ:EVER) Stock

EverQuote (NASDAQ:EVER) had its price objective boosted by analysts at JPMorgan Chase & Co. from $25.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.78% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. B. Riley cut their price target on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a report on Thursday, December 26th. Canaccord Genuity Group lowered their price target on EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Needham & Company LLC boosted their target price on shares of EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, EverQuote presently has a consensus rating of “Buy” and a consensus price target of $32.33.

EverQuote Trading Up 21.2 %

Shares of EVER stock traded up $4.27 during trading hours on Tuesday, reaching $24.42. 1,795,091 shares of the company’s stock were exchanged, compared to its average volume of 465,108. The stock’s 50 day moving average is $19.74 and its 200-day moving average is $20.07. EverQuote has a fifty-two week low of $14.28 and a fifty-two week high of $28.09. The company has a market cap of $863.09 million, a price-to-earnings ratio of 71.79 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 24th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.18. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The company had revenue of $147.46 million for the quarter, compared to the consensus estimate of $133.83 million. Equities analysts anticipate that EverQuote will post 0.72 EPS for the current year.

Insider Activity at EverQuote

In other EverQuote news, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the transaction, the director now directly owns 28,515 shares in the company, valued at $570,300. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO David Brainard sold 14,590 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.44, for a total value of $254,449.60. Following the sale, the chief technology officer now directly owns 137,291 shares of the company’s stock, valued at approximately $2,394,355.04. This trade represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,568 shares of company stock valued at $1,203,872. Corporate insiders own 29.79% of the company’s stock.

Institutional Trading of EverQuote

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in EverQuote by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock worth $40,314,000 after acquiring an additional 24,347 shares in the last quarter. Toronado Partners LLC increased its stake in shares of EverQuote by 59.7% during the fourth quarter. Toronado Partners LLC now owns 718,774 shares of the company’s stock worth $14,368,000 after buying an additional 268,670 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of EverQuote by 32.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company’s stock valued at $13,076,000 after purchasing an additional 161,426 shares during the last quarter. Emerald Advisers LLC lifted its position in shares of EverQuote by 165.8% during the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock worth $13,498,000 after purchasing an additional 399,257 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in EverQuote in the fourth quarter valued at $12,311,000. Institutional investors and hedge funds own 91.54% of the company’s stock.

About EverQuote

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.