JPMorgan Chase & Co. Forecasts Strong Price Appreciation for EverQuote (NASDAQ:EVER) Stock

EverQuote (NASDAQ:EVER) had its price objective boosted by JPMorgan Chase & Co. from $25.00 to $29.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on EVER. Needham & Company LLC boosted their target price on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Thursday, December 26th. B. Riley decreased their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group lowered their target price on EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $32.33.

EverQuote Price Performance

EVER stock opened at $25.78 on Tuesday. EverQuote has a 1 year low of $14.28 and a 1 year high of $28.09. The company has a market cap of $911.35 million, a P/E ratio of 75.82 and a beta of 0.96. The stock’s fifty day moving average price is $20.25 and its 200-day moving average price is $20.17.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.18. The business had revenue of $147.46 million for the quarter, compared to analysts’ expectations of $133.83 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. As a group, analysts expect that EverQuote will post 0.72 earnings per share for the current year.

Insider Activity

In other news, CTO David Brainard sold 14,590 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.44, for a total value of $254,449.60. Following the completion of the transaction, the chief technology officer now owns 137,291 shares of the company’s stock, valued at $2,394,355.04. This represents a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the sale, the director now directly owns 28,515 shares in the company, valued at $570,300. This trade represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,806 shares of company stock worth $1,262,374 in the last three months. Company insiders own 29.79% of the company’s stock.

Institutional Investors Weigh In On EverQuote

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of EverQuote by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock worth $40,314,000 after buying an additional 24,347 shares in the last quarter. Toronado Partners LLC increased its holdings in EverQuote by 59.7% in the 4th quarter. Toronado Partners LLC now owns 718,774 shares of the company’s stock valued at $14,368,000 after acquiring an additional 268,670 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in EverQuote by 32.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company’s stock valued at $13,076,000 after acquiring an additional 161,426 shares during the last quarter. Emerald Advisers LLC lifted its stake in EverQuote by 165.8% in the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock worth $13,498,000 after purchasing an additional 399,257 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in shares of EverQuote during the 4th quarter valued at about $12,311,000. 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.