JPMorgan Chase & Co. Raises EverQuote (NASDAQ:EVER) Price Target to $29.00

EverQuote (NASDAQ:EVER) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $25.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.78% from the stock’s previous close.

A number of other equities analysts have also commented on EVER. 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. B. Riley reduced their target price on 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 increased their target price on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity Group dropped their price objective on EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $32.33.

EverQuote Price Performance

Shares of EverQuote stock traded up $4.27 during trading on Tuesday, reaching $24.42. 1,795,091 shares of the company traded hands, compared to its average volume of 465,108. The firm has a market capitalization of $863.09 million, a PE ratio of 71.79 and a beta of 0.96. EverQuote has a 1-year low of $14.28 and a 1-year high of $28.09. The company has a 50 day moving average price of $19.74 and a 200-day moving average price of $20.07.

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

Insiders Place Their Bets

In other 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 value of $40,000.00. Following the completion of the sale, the director now directly owns 28,515 shares of the company’s stock, valued at $570,300. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David Brainard sold 6,609 shares of the stock in a transaction 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 completion of the sale, the chief technology officer now owns 156,783 shares of the company’s stock, valued at $3,369,266.67. The trade was a 4.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,568 shares of company stock valued at $1,203,872. Company insiders own 29.79% of the company’s stock.

Institutional Trading of EverQuote

Several institutional investors have recently made changes to their positions in EVER. Vanguard Group Inc. grew its position in shares of EverQuote by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock valued at $40,314,000 after purchasing an additional 24,347 shares in the last quarter. Toronado Partners LLC increased its position in EverQuote by 59.7% during the fourth 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 grew its holdings in EverQuote by 32.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company’s stock valued at $13,076,000 after purchasing an additional 161,426 shares during the last quarter. Emerald Advisers LLC grew its stake in shares of EverQuote by 165.8% during the third quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after buying an additional 399,257 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in EverQuote in the fourth quarter worth $12,311,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

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.