EverQuote (NASDAQ:EVER) Shares Up 8.4% – Should You Buy?

EverQuote, Inc. (NASDAQ:EVER) shares traded up 8.4% during trading on Friday . The stock traded as high as $23.07 and last traded at $23.5130. Approximately 113,787 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 882,379 shares. The stock had previously closed at $21.70.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EVER shares. Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. JPMorgan Chase & Co. boosted their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

EverQuote Price Performance

The stock has a market capitalization of $835.90 million, a price-to-earnings ratio of 7.89 and a beta of 0.65. The business’s fifty day moving average price is $18.89 and its 200-day moving average price is $19.74.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The company had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts predict that EverQuote, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joseph Sanborn sold 6,666 shares of EverQuote stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.28, for a total transaction of $128,520.48. Following the transaction, the chief financial officer owned 327,820 shares of the company’s stock, valued at $6,320,369.60. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total value of $193,073.64. Following the transaction, the chief technology officer directly owned 180,493 shares in the company, valued at approximately $3,505,174.06. The trade was a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,814 shares of company stock valued at $829,255 over the last three months. Corporate insiders own 23.68% of the company’s stock.

Institutional Investors Weigh In On EverQuote

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intrinsic Edge Capital Management LLC bought a new stake in shares of EverQuote in the 3rd quarter worth $1,830,000. SG Americas Securities LLC lifted its position in shares of EverQuote by 1,100.6% during the fourth quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock valued at $6,613,000 after purchasing an additional 224,535 shares in the last quarter. Legato Capital Management LLC lifted its position in shares of EverQuote by 179.9% during the fourth quarter. Legato Capital Management LLC now owns 86,717 shares of the company’s stock valued at $2,341,000 after purchasing an additional 55,741 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in EverQuote by 29.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,717 shares of the company’s stock worth $15,683,000 after purchasing an additional 141,026 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in EverQuote during the fourth quarter worth about $3,853,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

About EverQuote

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.