JPMorgan Chase & Co. Cuts EverQuote (NASDAQ:EVER) Price Target to $28.00

EverQuote (NASDAQ:EVER) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $34.00 to $28.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 53.68% from the stock’s previous close.

EVER has been the topic of several other reports. Craig Hallum increased their price objective on shares of EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Needham & Company LLC boosted their price target on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, EverQuote currently has a consensus rating of “Buy” and a consensus target price of $28.50.

EverQuote Stock Up 5.3 %

Shares of EVER traded up $0.91 during trading hours on Tuesday, hitting $18.22. The company had a trading volume of 557,616 shares, compared to its average volume of 463,923. The firm has a market cap of $639.16 million, a P/E ratio of -21.69 and a beta of 1.06. EverQuote has a 52-week low of $7.11 and a 52-week high of $28.09. The stock’s 50 day moving average price is $20.66 and its 200 day moving average price is $21.80.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. EverQuote had a negative net margin of 8.55% and a negative return on equity of 13.24%. The company had revenue of $144.53 million during the quarter, compared to analyst estimates of $140.30 million. During the same period last year, the business earned ($0.40) EPS. EverQuote’s quarterly revenue was up 162.7% compared to the same quarter last year. On average, research analysts expect that EverQuote will post 0.57 EPS for the current fiscal year.

Insider Activity at EverQuote

In other EverQuote news, CFO Joseph Sanborn sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $21.54, for a total transaction of $103,392.00. Following the transaction, the chief financial officer now owns 207,691 shares of the company’s stock, valued at approximately $4,473,664.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO David Brainard sold 1,641 shares of EverQuote stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $20.22, for a total transaction of $33,181.02. Following the completion of the sale, the chief technology officer now owns 155,491 shares of the company’s stock, valued at $3,144,028.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph Sanborn sold 4,800 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $21.54, for a total transaction of $103,392.00. Following the completion of the transaction, the chief financial officer now owns 207,691 shares in the company, valued at approximately $4,473,664.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,270 shares of company stock worth $431,011 over the last three months. 29.79% of the stock is owned by corporate insiders.

Institutional Trading of EverQuote

Several hedge funds and other institutional investors have recently bought and sold shares of EVER. Quarry LP grew its stake in EverQuote by 215.5% during the 2nd quarter. Quarry LP now owns 1,442 shares of the company’s stock valued at $30,000 after acquiring an additional 985 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of EverQuote in the 2nd quarter valued at $35,000. CWM LLC grew its position in EverQuote by 133.2% in the 2nd quarter. CWM LLC now owns 1,861 shares of the company’s stock valued at $39,000 after acquiring an additional 1,063 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in EverQuote during the second quarter worth about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of EverQuote during the second quarter worth about $147,000. 91.54% of the stock is owned by institutional investors and hedge funds.

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.