EverQuote (NASDAQ:EVER) Reaches New 52-Week High Following Earnings Beat

EverQuote, Inc. (NASDAQ:EVER) reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $23.73 and last traded at $23.50, with a volume of 303053 shares traded. The stock had previously closed at $21.36.

The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. EverQuote had a negative net margin of 17.81% and a negative return on equity of 34.38%. The business had revenue of $91.07 million during the quarter, compared to the consensus estimate of $80.36 million. During the same quarter last year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was down 16.6% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EVER shares. Craig Hallum boosted their price target on shares of EverQuote from $26.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC raised their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on EverQuote from $13.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Canaccord Genuity Group raised their target price on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, B. Riley boosted their price target on EverQuote from $24.00 to $29.50 and gave the stock a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $26.25.

Insider Buying and Selling at EverQuote

In other EverQuote news, Director David B. Blundin sold 89,177 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $15.00, for a total value of $1,337,655.00. Following the completion of the sale, the director now directly owns 802,589 shares of the company’s stock, valued at approximately $12,038,835. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David B. Blundin sold 89,177 shares of EverQuote stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $15.00, for a total transaction of $1,337,655.00. Following the sale, the director now directly owns 802,589 shares in the company, valued at approximately $12,038,835. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Lllp Link sold 10,422 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $15.43, for a total value of $160,811.46. Following the completion of the sale, the insider now owns 1,858,407 shares in the company, valued at $28,675,220.01. The disclosure for this sale can be found here. Insiders have sold a total of 524,065 shares of company stock worth $9,544,076 over the last 90 days. Insiders own 29.79% of the company’s stock.

Institutional Trading of EverQuote

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of EverQuote by 21.3% during the third quarter. Acadian Asset Management LLC now owns 220,251 shares of the company’s stock valued at $1,592,000 after acquiring an additional 38,663 shares during the period. Earnest Partners LLC lifted its position in EverQuote by 44.2% during the 3rd quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock valued at $13,980,000 after purchasing an additional 592,262 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of EverQuote by 9.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock valued at $4,009,000 after purchasing an additional 45,813 shares during the last quarter. Gilbert & Cook Inc. acquired a new stake in shares of EverQuote during the 3rd quarter worth approximately $85,000. Finally, Raymond James & Associates raised its stake in shares of EverQuote by 69.3% during the third quarter. Raymond James & Associates now owns 44,704 shares of the company’s stock worth $323,000 after buying an additional 18,295 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

EverQuote Stock Up 18.4 %

The firm has a market capitalization of $865.68 million, a price-to-earnings ratio of -16.42 and a beta of 0.85. The company’s fifty day moving average is $18.38 and its two-hundred day moving average is $13.69.

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.