EverQuote (NASDAQ:EVER) Shares Gap Up - Time to Buy?

Shares of EverQuote, Inc. (NASDAQ:EVER - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $18.32, but opened at $19.36. EverQuote shares last traded at $19.80, with a volume of 98,542 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVER. Raymond James raised EverQuote from an "outperform" rating to a "strong-buy" rating and set a $35.00 price objective for the company in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on EverQuote from $34.00 to $28.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Finally, B. Riley lowered their price objective on shares of EverQuote from $36.50 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $32.17.

EverQuote Trading Up 9.8 %

The company has a market capitalization of $710.91 million, a price-to-earnings ratio of 59.15 and a beta of 0.96. The business's 50 day moving average price is $18.52 and its two-hundred day moving average price is $20.79.

EverQuote (NASDAQ:EVER - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The company had revenue of $144.53 million for the quarter, compared to the consensus estimate of $140.30 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. EverQuote's revenue for the quarter was up 162.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) EPS. Analysts expect that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Transactions at EverQuote

In other EverQuote news, CTO David Brainard sold 1,641 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $20.22, for a total transaction of $33,181.02. Following the sale, the chief technology officer now owns 155,491 shares of the company's stock, valued at approximately $3,144,028.02. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George R. Neble sold 2,500 shares of EverQuote stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $19.42, for a total value of $48,550.00. Following the completion of the transaction, the director now directly owns 54,970 shares of the company's stock, valued at approximately $1,067,517.40. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,306 shares of company stock worth $443,260 over the last ninety days. 29.79% of the stock is owned by insiders.

Institutional Investors Weigh In On EverQuote

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gladius Capital Management LP bought a new position in shares of EverQuote in the 3rd quarter worth $26,000. Quarry LP raised its holdings in EverQuote by 215.5% during the second quarter. Quarry LP now owns 1,442 shares of the company's stock worth $30,000 after buying an additional 985 shares during the last quarter. nVerses Capital LLC acquired a new position in EverQuote during the second quarter worth $35,000. Quantbot Technologies LP lifted its stake in shares of EverQuote by 115.1% in the third quarter. Quantbot Technologies LP now owns 3,502 shares of the company's stock valued at $74,000 after buying an additional 1,874 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of EverQuote during the second quarter valued at about $76,000. 91.54% of the stock is owned by institutional investors.

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.