EverQuote (NASDAQ:EVER) Reaches New 52-Week High Following Strong Earnings

EverQuote, Inc. (NASDAQ:EVER) shares reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $23.73 and last traded at $23.50, with a volume of 303053 shares changing hands. The stock had previously closed at $21.36.

The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. EverQuote had a negative net margin of 17.81% and a negative return on equity of 34.38%. The business had revenue of $91.07 million during the quarter, compared to analyst estimates of $80.36 million. During the same period in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was down 16.6% compared to the same quarter last year.

Analysts Set New Price Targets

EVER has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of EverQuote from $13.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Craig Hallum increased their price target on shares of EverQuote from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley lifted their target price on EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a research report on Tuesday. Finally, Needham & Company LLC upped their price target on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $26.25.

Insider Activity at EverQuote

In other EverQuote news, major shareholder Ventures Lllp Link sold 2,730 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $21.88, for a total transaction of $59,732.40. Following the sale, the insider now directly owns 1,553,430 shares of the company’s stock, valued at $33,989,048.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director David B. Blundin sold 89,177 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $15.00, for a total transaction of $1,337,655.00. Following the completion of the transaction, the director now owns 802,589 shares in the company, valued at $12,038,835. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Lllp Link sold 2,730 shares of EverQuote stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total transaction of $59,732.40. Following the completion of the sale, the insider now owns 1,553,430 shares in the company, valued at $33,989,048.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,065 shares of company stock worth $9,544,076. 29.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EverQuote

Several large investors have recently made changes to their positions in EVER. Earnest Partners LLC lifted its holdings in shares of EverQuote by 44.2% in the 3rd quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock worth $13,980,000 after buying an additional 592,262 shares during the period. Envestnet Asset Management Inc. lifted its stake in EverQuote by 193.7% in the third quarter. Envestnet Asset Management Inc. now owns 716,865 shares of the company’s stock worth $5,183,000 after acquiring an additional 472,821 shares during the period. First Eagle Investment Management LLC increased its position in EverQuote by 9.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock valued at $4,009,000 after purchasing an additional 45,813 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock valued at $5,448,000 after purchasing an additional 293,404 shares in the last quarter. Finally, HST Ventures LLC boosted its stake in shares of EverQuote by 13.9% during the fourth quarter. HST Ventures LLC now owns 291,705 shares of the company’s stock valued at $3,570,000 after purchasing an additional 35,624 shares in the last quarter. 91.54% of the stock is owned by institutional investors.

EverQuote Price Performance

The company has a market capitalization of $815.36 million, a PE ratio of -15.64 and a beta of 0.85. The company’s fifty day moving average is $18.53 and its 200-day moving average is $13.82.

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.