Canaccord Genuity Group Increases EverQuote (NASDAQ:EVER) Price Target to $30.00

EverQuote (NASDAQ:EVER) had its price objective hoisted by analysts at Canaccord Genuity Group from $25.00 to $30.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 25.94% from the company’s previous close.

A number of other brokerages have also weighed in on EVER. B. Riley assumed coverage on EverQuote in a research report on Friday, April 19th. They set a “buy” rating and a $24.00 target price on the stock. Needham & Company LLC raised their price objective on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of EverQuote from $13.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $26.25.

EverQuote Stock Down 5.8 %

EverQuote stock opened at $23.82 on Tuesday. The company has a market capitalization of $815.36 million, a PE ratio of -15.64 and a beta of 0.85. The firm’s fifty day moving average is $18.53 and its 200 day moving average is $13.82. EverQuote has a 12-month low of $5.36 and a 12-month high of $25.69.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, May 6th. The company reported $0.05 earnings per share (EPS) 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 company had revenue of $91.07 million for the quarter, compared to analysts’ expectations of $80.36 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue was down 16.6% on a year-over-year basis. Sell-side analysts expect that EverQuote will post -0.36 EPS for the current fiscal year.

Insider Activity at EverQuote

In other EverQuote news, major shareholder Ventures Lllp Link sold 2,730 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total value of $59,732.40. Following the completion of the sale, the insider now directly owns 1,553,430 shares of the company’s stock, valued at approximately $33,989,048.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EverQuote news, major shareholder Ventures Lllp Link sold 2,730 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $21.88, for a total value of $59,732.40. Following the transaction, the insider now owns 1,553,430 shares of the company’s stock, valued at $33,989,048.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Blundin sold 89,177 shares of the company’s 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 transaction, the director now owns 802,589 shares of the company’s stock, valued at approximately $12,038,835. The disclosure for this sale can be found here. Insiders have sold 524,065 shares of company stock valued at $9,544,076 over the last ninety days. Corporate insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC raised its holdings in shares of EverQuote by 44.2% in the 3rd quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock worth $13,980,000 after purchasing an additional 592,262 shares during the period. Envestnet Asset Management Inc. lifted its holdings in EverQuote by 193.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 716,865 shares of the company’s stock worth $5,183,000 after purchasing an additional 472,821 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock worth $5,448,000 after purchasing an additional 293,404 shares during the period. B. Riley Asset Management LLC bought a new position in EverQuote in the 3rd quarter worth about $723,000. Finally, First Eagle Investment Management LLC grew its holdings in EverQuote by 9.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock valued at $4,009,000 after buying an additional 45,813 shares in the last quarter. 91.54% of the stock is currently 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.