EverQuote (NASDAQ:EVER) Shares Gap Up After Earnings Beat

EverQuote, Inc. (NASDAQ:EVER - Get Free Report)'s share price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.31, but opened at $19.00. EverQuote shares last traded at $17.75, with a volume of 390,650 shares traded.

The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. EverQuote had a negative return on equity of 13.24% and a negative net margin of 8.55%. The company had revenue of $144.53 million during the quarter, compared to the consensus estimate of $140.30 million. During the same quarter last year, the company earned ($0.40) earnings per share. EverQuote's quarterly revenue was up 162.7% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. B. Riley lowered their target price on shares of EverQuote from $36.50 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday. Needham & Company LLC lifted their price objective on EverQuote from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on EverQuote from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Craig Hallum lifted their price target on EverQuote from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $28.50.

Insider Activity

In related news, CTO David Brainard sold 1,641 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.22, for a total value of $33,181.02. Following the completion of the transaction, the chief technology officer now owns 155,491 shares of the company's stock, valued at approximately $3,144,028.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director George R. Neble sold 2,500 shares of the firm's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $19.42, for a total transaction of $48,550.00. Following the sale, the director now owns 54,970 shares in the company, valued at $1,067,517.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $33,181.02. Following the completion of the transaction, the chief technology officer now owns 155,491 shares of the company's stock, valued at $3,144,028.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,270 shares of company stock worth $431,011 over the last three months. 29.79% of the stock is currently owned by corporate insiders.

Institutional Trading of EverQuote

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its position in shares of EverQuote by 215.5% in the second quarter. Quarry LP now owns 1,442 shares of the company's stock worth $30,000 after acquiring an additional 985 shares during the last quarter. nVerses Capital LLC purchased a new position in EverQuote during the second quarter worth approximately $35,000. CWM LLC boosted its holdings in shares of EverQuote by 133.2% in the 2nd quarter. CWM LLC now owns 1,861 shares of the company's stock valued at $39,000 after purchasing an additional 1,063 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of EverQuote during the 2nd quarter valued at $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of EverQuote during the 2nd quarter worth $147,000. Hedge funds and other institutional investors own 91.54% of the company's stock.

EverQuote Trading Up 4.0 %

The firm has a market capitalization of $631.79 million, a PE ratio of -21.44 and a beta of 1.06. The firm has a 50-day moving average of $20.66 and a two-hundred day moving average of $21.80.

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.