Canaccord Genuity Group Has Lowered Expectations for EverQuote (NASDAQ:EVER) Stock Price

EverQuote (NASDAQ:EVER) had its target price trimmed by Canaccord Genuity Group from $35.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on EVER. JPMorgan Chase & Co. cut their price objective on shares of EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Raymond James raised EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Thursday, December 26th. Finally, B. Riley lowered their price target on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EverQuote currently has a consensus rating of “Buy” and a consensus target price of $31.67.

EverQuote Trading Down 2.9 %

Shares of NASDAQ EVER opened at $20.15 on Monday. The company has a 50 day simple moving average of $19.74 and a two-hundred day simple moving average of $20.07. The stock has a market cap of $712.30 million, a price-to-earnings ratio of 59.26 and a beta of 0.96. EverQuote has a 12 month low of $14.28 and a 12 month high of $28.09.

EverQuote (NASDAQ:EVER) last issued 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. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. Analysts forecast that EverQuote will post 0.72 EPS for the current year.

Insider Transactions at EverQuote

In other news, CTO David Brainard sold 6,609 shares of EverQuote stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $21.49, for a total value of $142,027.41. Following the sale, the chief technology officer now directly owns 156,783 shares of the company’s stock, valued at $3,369,266.67. The trade was a 4.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Shields sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 28,515 shares of the company’s stock, valued at approximately $570,300. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,412 shares of company stock valued at $1,178,790 over the last 90 days. Corporate insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Hedge funds and other institutional investors have recently modified their holdings of the business. Divisadero Street Capital Management LP purchased a new stake in EverQuote during the 4th quarter valued at about $12,311,000. Freestone Grove Partners LP acquired a new position in shares of EverQuote during the 4th quarter worth approximately $11,618,000. Point72 Asset Management L.P. grew its position in shares of EverQuote by 2,301.4% in the fourth quarter. Point72 Asset Management L.P. now owns 461,013 shares of the company’s stock valued at $9,216,000 after purchasing an additional 441,815 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in shares of EverQuote by 572.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 504,081 shares of the company’s stock worth $10,631,000 after acquiring an additional 429,084 shares during the last quarter. Finally, Emerald Advisers LLC increased its stake in shares of 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 acquiring an additional 399,257 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.