EverQuote (NASDAQ:EVER) Shares Gap Up – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER) shares gapped up before the market opened on Thursday. The stock had previously closed at $22.11, but opened at $23.23. EverQuote shares last traded at $23.3870, with a volume of 112,052 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on EVER. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price target on shares of EverQuote in a research report on Thursday, August 13th. Weiss Ratings raised EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered EverQuote from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. Needham & Company LLC increased their price objective on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $34.00 target price (up from $30.00) on shares of EverQuote in a research report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.17.

EverQuote Price Performance

The firm has a market capitalization of $819.32 million, a P/E ratio of 7.38 and a beta of 0.68. The business’s 50-day moving average is $22.57 and its 200 day moving average is $21.53.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The business had revenue of $195.09 million during the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. EverQuote’s revenue was up 24.6% compared to the same quarter last year. Analysts anticipate that EverQuote, Inc. will post 1.72 EPS for the current fiscal year.

Insider Transactions at EverQuote

In other news, Director Mira Wilczek sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $25.07, for a total value of $238,165.00. Following the completion of the transaction, the director owned 110,353 shares of the company’s stock, valued at $2,766,549.71. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jayme Mendal sold 20,981 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $24.27, for a total value of $509,208.87. Following the transaction, the chief executive officer directly owned 591,160 shares of the company’s stock, valued at approximately $14,347,453.20. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 75,681 shares of company stock valued at $1,730,822. 23.68% of the stock is currently owned by corporate insiders.

Institutional Trading of EverQuote

Several hedge funds have recently bought and sold shares of the business. Signature Equity Partners LLC increased its stake in shares of EverQuote by 65.5% in the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after purchasing an additional 842 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of EverQuote in the second quarter worth approximately $55,000. Allworth Financial LP raised its position in shares of EverQuote by 63.7% during the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $61,000 after buying an additional 997 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of EverQuote by 100.1% in the 2nd quarter. IFP Advisors Inc now owns 3,219 shares of the company’s stock worth $77,000 after purchasing an additional 1,610 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new position in EverQuote during the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 91.54% of the company’s stock.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace that connects consumers seeking insurance with insurance providers and distribution partners. The company uses technology, data, and digital marketing to help consumers compare insurance options and obtain quotes.

Its platform has primarily focused on auto insurance, while also supporting other insurance categories, including home and renters insurance. EverQuote generates business by providing insurance carriers and agents with consumer referrals and opportunities to reach people who are actively shopping for coverage.

Founded in 2010 and headquartered in Cambridge, Massachusetts, EverQuote serves the United States insurance market.