EverQuote (NASDAQ:EVER) Upgraded by Raymond James to “Strong-Buy” Rating

EverQuote (NASDAQ:EVER) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $35.00 price target on the stock. Raymond James’ price target would indicate a potential upside of 91.05% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of EverQuote from $34.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. B. Riley cut their price target on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EverQuote currently has a consensus rating of “Buy” and a consensus price target of $32.17.

EverQuote Price Performance

Shares of EVER stock opened at $18.32 on Thursday. The stock has a market capitalization of $647.63 million, a price-to-earnings ratio of 53.88 and a beta of 0.96. The company’s fifty day simple moving average is $18.50 and its two-hundred day simple moving average is $20.80. EverQuote has a 1 year low of $10.21 and a 1 year high of $28.09.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The company had revenue of $144.53 million for the quarter, compared to analyst estimates of $140.30 million. During the same period in the previous year, the company posted ($0.40) EPS. The firm’s revenue for the quarter was up 162.7% compared to the same quarter last year. Equities research analysts anticipate that EverQuote will post 0.72 EPS for the current year.

Insider Activity at EverQuote

In related news, Director George R. Neble sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $19.42, for a total value of $48,550.00. Following the completion of the sale, the director now owns 54,970 shares in the company, valued at $1,067,517.40. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO David Brainard sold 1,641 shares of the company’s stock in a transaction that occurred on 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 sale, the chief technology officer now directly owns 155,491 shares of the company’s stock, valued at approximately $3,144,028.02. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,306 shares of company stock valued at $443,260 over the last three months. 29.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

Several institutional investors and hedge funds have recently made changes to their positions in EVER. Gladius Capital Management LP bought a new stake in EverQuote in the third quarter worth $26,000. Quarry LP boosted its holdings 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 during the period. nVerses Capital LLC bought a new position in EverQuote during the 2nd quarter worth approximately $35,000. Quantbot Technologies LP grew its position in EverQuote by 115.1% during the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock worth $74,000 after acquiring an additional 1,874 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in EverQuote in the 2nd quarter worth approximately $76,000. Institutional investors own 91.54% of the company’s stock.

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.