EverQuote (NASDAQ:EVER) Shares Gap Up After Strong Earnings

EverQuote, Inc. (NASDAQ:EVER) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.15, but opened at $26.25. EverQuote shares last traded at $25.70, with a volume of 702,887 shares changing hands.

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%. The company had revenue of $147.46 million during the quarter, compared to the consensus estimate of $133.83 million.

Analyst Ratings Changes

EVER has been the subject of several analyst reports. Canaccord Genuity Group decreased their target price on EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Raymond James upgraded 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. B. Riley dropped their price objective on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC boosted their target price on shares of EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of EverQuote from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.33.

Insiders Place Their Bets

In other EverQuote news, 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 transaction of $40,000.00. Following the transaction, the director now directly owns 28,515 shares in the company, valued at $570,300. This represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David Brainard sold 29,248 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $19.93, for a total transaction of $582,912.64. Following the completion of the sale, the chief technology officer now directly owns 116,212 shares of the company’s stock, valued at $2,316,105.16. The trade was a 20.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,568 shares of company stock worth $1,203,872 in the last three months. 29.79% of the stock is owned by insiders.

Hedge Funds Weigh In On EverQuote

A number of hedge funds have recently bought and sold shares of EVER. Gladius Capital Management LP bought a new position in EverQuote during the 3rd quarter worth approximately $26,000. R Squared Ltd acquired a new stake in shares of EverQuote during the 4th quarter valued at approximately $34,000. Quarry LP lifted its stake in EverQuote by 100.7% during the third quarter. Quarry LP now owns 2,894 shares of the company’s stock worth $61,000 after purchasing an additional 1,452 shares during the last quarter. Quantbot Technologies LP lifted its stake in EverQuote by 115.1% during the third quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock worth $74,000 after purchasing an additional 1,874 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in EverQuote by 80.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company’s stock worth $90,000 after purchasing an additional 2,042 shares during the period. 91.54% of the stock is currently owned by institutional investors and hedge funds.

EverQuote Stock Up 27.2 %

The stock has a market cap of $906.05 million, a P/E ratio of 75.38 and a beta of 0.96. The firm’s 50 day simple moving average is $19.90 and its two-hundred day simple moving average is $20.09.

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.