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

EverQuote, Inc. (NASDAQ:EVER - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $21.15, but opened at $22.98. EverQuote shares last traded at $22.53, with a volume of 22,743 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EVER shares. Raymond James raised shares of EverQuote from an "outperform" rating to a "strong-buy" rating and set a $35.00 target price on the stock in a research note on Thursday, December 26th. Canaccord Genuity Group reduced their price objective on EverQuote from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Needham & Company LLC boosted their target price on EverQuote from $30.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. increased their price target on EverQuote from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $32.33.

EverQuote Trading Down 4.4 %

The stock has a fifty day simple moving average of $24.34 and a 200-day simple moving average of $20.89. The company has a market capitalization of $721.98 million, a PE ratio of 59.44 and a beta of 0.77.

Remove Ads

EverQuote (NASDAQ:EVER - Get Free Report) last posted 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. The firm had revenue of $147.46 million during the quarter, compared to analysts' expectations of $133.83 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. As a group, equities research analysts predict that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling

In other news, Director David B. Blundin sold 77,600 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $28.67, for a total value of $2,224,792.00. Following the completion of the sale, the director now directly owns 97,920 shares of the company's stock, valued at approximately $2,807,366.40. This represents a 44.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Shields sold 2,000 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was 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 approximately $570,300. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,607 shares of company stock worth $4,969,642 in the last ninety days. 29.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in EverQuote during the 4th quarter worth approximately $34,000. Asset Management One Co. Ltd. increased its holdings in EverQuote by 80.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company's stock valued at $90,000 after buying an additional 2,042 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of EverQuote during the 4th quarter valued at approximately $90,000. AlphaQuest LLC boosted its stake in shares of EverQuote by 53.9% during the 4th quarter. AlphaQuest LLC now owns 7,704 shares of the company's stock worth $154,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of EverQuote by 23.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,968 shares of the company's stock worth $179,000 after acquiring an additional 1,724 shares in the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.