EverQuote (NASDAQ:EVER) Price Target Raised to $30.00

EverQuote (NASDAQ:EVER) had its price target lifted by Needham & Company LLC from $25.00 to $30.00 in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

EVER has been the topic of several other research reports. Wall Street Zen raised shares of EverQuote from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.67.

EverQuote Stock Performance

Shares of NASDAQ EVER opened at $23.82 on Tuesday. The company has a market cap of $858.23 million, a PE ratio of 7.73 and a beta of 0.62. The business has a 50-day simple moving average of $23.06 and a two-hundred day simple moving average of $19.43. EverQuote has a fifty-two week low of $13.88 and a fifty-two week high of $28.73.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The business had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts predict that EverQuote will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the transaction, the chief accounting officer directly owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 6,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.63, for a total value of $164,208.21. Following the completion of the transaction, the chief financial officer directly owned 311,908 shares of the company’s stock, valued at $7,682,294.04. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,586 shares of company stock valued at $629,114 over the last ninety days. Company insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors have recently made changes to their positions in EVER. Comerica Bank boosted its holdings in EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 772 shares in the last quarter. Signature Equity Partners LLC increased its holdings in EverQuote by 65.5% in the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after buying an additional 842 shares in the last quarter. NewEdge Advisors LLC purchased a new position in EverQuote in the third quarter valued at $52,000. Clearstead Advisors LLC raised its position in shares of EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of EverQuote by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock worth $79,000 after acquiring an additional 2,381 shares during the period. 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.