EverQuote (NASDAQ:EVER) Shares Gap Up – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER) shares gapped up before the market opened on Thursday . The stock had previously closed at $18.32, but opened at $19.36. EverQuote shares last traded at $19.80, with a volume of 98,542 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EVER shares. B. Riley decreased their price objective on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Raymond James upgraded EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on EverQuote from $34.00 to $28.00 and set an “overweight” rating for the company in a research note 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. According to data from MarketBeat, EverQuote presently has a consensus rating of “Buy” and an average target price of $32.17.

EverQuote Stock Performance

The company’s 50-day simple moving average is $18.53 and its 200 day simple moving average is $20.78. The company has a market cap of $695.71 million, a PE ratio of 57.88 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last released its earnings results 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 firm 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 posted ($0.40) earnings per share. EverQuote’s revenue was up 162.7% compared to the same quarter last year. Analysts forecast that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Transactions at EverQuote

In other news, Director George R. Neble sold 2,500 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $19.42, for a total value of $48,550.00. Following the sale, the director now directly owns 54,970 shares in the company, valued at approximately $1,067,517.40. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Brainard sold 1,641 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.22, for a total transaction of $33,181.02. Following the transaction, the chief technology officer now owns 155,491 shares of the company’s stock, valued at approximately $3,144,028.02. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,306 shares of company stock valued at $443,260. 29.79% of the stock is currently owned by corporate insiders.

Institutional Trading of EverQuote

A number of institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP purchased a new position in shares of EverQuote in the 3rd quarter valued at about $26,000. Quarry LP increased its stake in 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 during the last quarter. nVerses Capital LLC acquired a new stake in EverQuote during the second quarter worth approximately $35,000. Quantbot Technologies LP lifted its position in shares of 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 buying an additional 1,874 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of EverQuote in the 2nd quarter valued at $76,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.