Everest Group (NYSE:EG) Price Target Raised to $396.00

Key Points

• Wells Fargo raised Everest Group’s price target to $396 from $373 while maintaining an “equal weight” rating, implying approximately 6% upside from the current price.
• Analyst sentiment remains cautious: Everest Group has a consensus “Hold” rating from MarketBeat, with a consensus price target of $389.93.
• Everest Group reported quarterly EPS of $14.85, exceeding estimates of $14.52, but revenue fell 11.8% year over year to $3.96 billion and missed expectations slightly.

Everest Group (NYSE:EG - Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $373.00 to $396.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 5.96% from the stock's current price.

A number of other research firms also recently commented on EG. Evercore set a $377.00 price objective on Everest Group in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on Everest Group from $411.00 to $414.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Mizuho set a $416.00 target price on shares of Everest Group in a research report on Friday. UBS Group set a $355.00 price target on shares of Everest Group in a report on Thursday, May 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of Everest Group in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $389.93.

Everest Group Trading Down 0.4%

Shares of EG stock traded down $1.65 on Friday, reaching $373.71. 31,246 shares of the stock were exchanged, compared to its average volume of 378,426. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.79 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 0.61 and a beta of 0.29. The firm has a 50 day moving average of $355.30 and a two-hundred day moving average of $341.87. Everest Group has a 1-year low of $302.44 and a 1-year high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating analysts' consensus estimates of $14.52 by $0.33. Everest Group had a return on equity of 13.64% and a net margin of 11.41%.The firm had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.99 billion. During the same quarter last year, the firm earned $16.10 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, research analysts anticipate that Everest Group will post 52.86 EPS for the current year.

Insider Buying and Selling at Everest Group

In other news, CEO Jason Keen sold 775 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer owned 8,170 shares of the company's stock, valued at $2,874,532.80. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Everest Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Everest Group by 70.3% in the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock valued at $695,275,000 after acquiring an additional 830,418 shares in the last quarter. State Street Corp lifted its position in shares of Everest Group by 0.4% during the fourth quarter. State Street Corp now owns 1,906,692 shares of the company's stock worth $647,036,000 after purchasing an additional 7,806 shares in the last quarter. Norges Bank acquired a new position in shares of Everest Group during the fourth quarter worth $630,277,000. Vulcan Value Partners LLC boosted its stake in shares of Everest Group by 6.5% in the fourth quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company's stock valued at $512,288,000 after purchasing an additional 92,274 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Everest Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company's stock valued at $395,671,000 after purchasing an additional 4,978 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

About Everest Group

Everest Group NYSE: EG is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.