EverQuote (NASDAQ:EVER) Shares Gap Up Following Strong Earnings

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $17.31, but opened at $19.00. EverQuote shares last traded at $17.75, with a volume of 390,650 shares trading hands.

The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $144.53 million during the quarter, compared to the consensus estimate of $140.30 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up 162.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

EVER has been the topic of a number of recent analyst reports. Craig Hallum lifted their price objective on shares of EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price target on shares of EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC increased their price objective on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, B. Riley dropped their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.50.

Insider Transactions at EverQuote

In related news, CFO Joseph Sanborn sold 4,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $21.54, for a total transaction of $103,392.00. Following the completion of the sale, the chief financial officer now directly owns 207,691 shares in the company, valued at approximately $4,473,664.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Joseph Sanborn sold 4,800 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 207,691 shares of the company’s stock, valued at $4,473,664.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $33,181.02. Following the completion of the transaction, the chief technology officer now directly owns 155,491 shares in the company, valued at $3,144,028.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,270 shares of company stock valued at $431,011 in the last quarter. Insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVER. Quarry LP lifted its holdings in shares of EverQuote by 215.5% in the second quarter. Quarry LP now owns 1,442 shares of the company’s stock valued at $30,000 after purchasing an additional 985 shares in the last quarter. nVerses Capital LLC purchased a new stake in EverQuote in the 2nd quarter worth about $35,000. CWM LLC lifted its stake in EverQuote by 133.2% in the 2nd quarter. CWM LLC now owns 1,861 shares of the company’s stock worth $39,000 after acquiring an additional 1,063 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in EverQuote during the 2nd quarter worth about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in EverQuote during the 2nd quarter valued at about $147,000. Institutional investors and hedge funds own 91.54% of the company’s stock.

EverQuote Trading Up 4.0 %

The business has a fifty day moving average price of $20.66 and a two-hundred day moving average price of $21.80. The company has a market cap of $631.79 million, a price-to-earnings ratio of -21.44 and a beta of 1.06.

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.