EverQuote (NASDAQ:EVER) Shares Gap Up – Should You Buy?

Shares of EverQuote, Inc. (NASDAQ:EVER) gapped up before the market opened on Thursday . The stock had previously closed at $18.32, but opened at $19.36. EverQuote shares last traded at $19.80, with a volume of 98,542 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Raymond James upgraded EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Thursday. Finally, B. Riley dropped 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.17.

EverQuote Stock Up 8.2 %

The firm has a market capitalization of $700.66 million, a price-to-earnings ratio of 58.29 and a beta of 0.96. The company has a 50-day moving average price of $18.50 and a 200-day moving average price of $20.80.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The company had revenue of $144.53 million during the quarter, compared to analyst estimates of $140.30 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. The firm’s quarterly revenue was up 162.7% on a year-over-year basis. As a group, analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Activity

In other news, CTO David Brainard sold 1,641 shares of EverQuote stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $20.22, for a total value of $33,181.02. Following the transaction, the chief technology officer now owns 155,491 shares of the company’s stock, valued at $3,144,028.02. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George R. Neble sold 2,500 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $19.42, for a total transaction of $48,550.00. Following the sale, the director now directly owns 54,970 shares of the company’s stock, valued at approximately $1,067,517.40. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,306 shares of company stock worth $443,260. 29.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverQuote

Institutional investors and hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new position in EverQuote in the 3rd quarter worth about $26,000. Quarry LP grew its position in EverQuote by 215.5% during the 2nd quarter. Quarry LP now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 985 shares in the last quarter. nVerses Capital LLC acquired a new stake in EverQuote during the 2nd quarter valued at $35,000. Quantbot Technologies LP raised its stake in EverQuote by 115.1% during the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock valued at $74,000 after purchasing an additional 1,874 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of EverQuote in the second quarter valued at $76,000. 91.54% of the stock is owned by institutional investors and hedge funds.

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.