EverQuote (NASDAQ:EVER) Shares Gap Up – What’s Next?

EverQuote, Inc. (NASDAQ:EVER)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.15, but opened at $22.98. EverQuote shares last traded at $22.53, with a volume of 22,743 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on EVER. JPMorgan Chase & Co. raised their target price on EverQuote from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Needham & Company LLC lifted their target price on shares of EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Raymond James upgraded shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Thursday, December 26th. Finally, Canaccord Genuity Group cut their price target on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EverQuote has an average rating of “Buy” and a consensus target price of $32.33.

EverQuote Stock Down 2.4 %

The stock’s 50-day simple moving average is $24.35 and its 200 day simple moving average is $20.90. The firm has a market cap of $755.56 million, a P/E ratio of 62.21 and a beta of 0.77.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 24th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.15 by $0.18. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The business had revenue of $147.46 million during the quarter, compared to analysts’ expectations of $133.83 million. On average, research analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverQuote news, CTO David Brainard sold 4,113 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $22.41, for a total transaction of $92,172.33. Following the transaction, the chief technology officer now owns 143,874 shares in the company, valued at approximately $3,224,216.34. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ventures Lllp Link sold 1,022 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $28.75, for a total transaction of $29,382.50. Following the completion of the sale, the insider now owns 3,498,667 shares in the company, valued at $100,586,676.25. This represents a 0.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,857 shares of company stock valued at $4,992,367. 29.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverQuote

Institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. bought a new stake in EverQuote in the 1st quarter worth about $315,000. GAMMA Investing LLC raised its holdings in EverQuote by 3,600.0% during the 1st quarter. GAMMA Investing LLC now owns 8,695 shares of the company’s stock valued at $228,000 after acquiring an additional 8,460 shares during the period. California State Teachers Retirement System lifted its holdings in EverQuote by 11.8% during the 4th quarter. California State Teachers Retirement System now owns 24,781 shares of the company’s stock worth $495,000 after purchasing an additional 2,624 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of EverQuote by 65.3% in the fourth quarter. Mackenzie Financial Corp now owns 104,303 shares of the company’s stock worth $2,085,000 after buying an additional 41,222 shares in the last quarter. Finally, Warm Springs Advisors Inc. bought a new position in shares of EverQuote in the fourth quarter worth $1,499,000. Institutional investors own 91.54% of the company’s stock.

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.