EverQuote (NASDAQ:EVER) Reaches New 1-Year High – Still a Buy?

EverQuote, Inc. (NASDAQ:EVER)’s share price hit a new 52-week high on Monday . The stock traded as high as $29.97 and last traded at $28.40, with a volume of 80634 shares changing hands. The stock had previously closed at $28.71.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EVER. Canaccord Genuity Group reduced their price target on EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Needham & Company LLC upped their price objective on shares of EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research note on Thursday, December 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of EverQuote from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Five research 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $32.33.

EverQuote Stock Performance

The stock’s fifty day simple moving average is $23.06 and its two-hundred day simple moving average is $20.68. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 87.38 and a beta of 1.01.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 24th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. The business had revenue of $147.46 million for the quarter, compared to the consensus estimate of $133.83 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. On average, equities analysts anticipate that EverQuote, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity

In other EverQuote news, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.00, for a total transaction of $40,000.00. Following the sale, the director now owns 28,515 shares in the company, valued at approximately $570,300. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Blundin sold 77,600 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $28.67, for a total transaction of $2,224,792.00. Following the sale, the director now directly owns 97,920 shares of the company’s stock, valued at $2,807,366.40. This represents a 44.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,028 shares of company stock worth $5,269,954. Insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP purchased a new stake in shares of EverQuote in the fourth quarter valued at $12,311,000. Freestone Grove Partners LP purchased a new stake in EverQuote in the 4th quarter worth about $11,618,000. Point72 Asset Management L.P. boosted its position in EverQuote by 2,301.4% during the 4th quarter. Point72 Asset Management L.P. now owns 461,013 shares of the company’s stock worth $9,216,000 after acquiring an additional 441,815 shares during the period. JPMorgan Chase & Co. grew its stake in EverQuote by 3,022.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,629 shares of the company’s stock valued at $8,133,000 after acquiring an additional 373,280 shares in the last quarter. Finally, Toronado Partners LLC increased its holdings in shares of 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 purchasing an additional 268,670 shares during the period. 91.54% of the stock is currently 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.