Needham & Company LLC Reiterates "Buy" Rating for EverQuote (NASDAQ:EVER)

EverQuote (NASDAQ:EVER - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $38.00 target price on the stock. Needham & Company LLC's price target would suggest a potential upside of 63.58% from the stock's current price.

EVER has been the topic of a number of other reports. Canaccord Genuity Group decreased their target price on EverQuote from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on EverQuote from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, EverQuote has an average rating of "Buy" and a consensus target price of $32.50.

EverQuote Stock Up 0.4 %

NASDAQ EVER traded up $0.10 during trading hours on Tuesday, hitting $23.23. 438,896 shares of the stock were exchanged, compared to its average volume of 549,915. EverQuote has a 12-month low of $16.63 and a 12-month high of $30.03. The stock has a 50-day moving average of $24.48 and a 200 day moving average of $21.33. The company has a market cap of $829.87 million, a price-to-earnings ratio of 68.32 and a beta of 0.45.

EverQuote (NASDAQ:EVER - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.18. The business had revenue of $147.46 million during 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 research analysts expect that EverQuote will post 0.72 earnings per share for the current year.

Insider Activity

In other news, Director David B. Blundin sold 77,600 shares of EverQuote stock in a transaction on Friday, March 21st. The stock was sold at an average price of $28.67, for a total value of $2,224,792.00. Following the completion of the sale, the director now owns 97,920 shares of the company's stock, valued at $2,807,366.40. The trade was a 44.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Lllp Link sold 1,022 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $28.75, for a total value of $29,382.50. Following the transaction, the insider now owns 3,498,667 shares in the company, valued at $100,586,676.25. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,967 shares of company stock worth $5,278,231 over the last three months. 29.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new position in EverQuote during the first quarter worth approximately $407,000. Legato Capital Management LLC raised its position in shares of EverQuote by 75.4% in the 1st quarter. Legato Capital Management LLC now owns 55,308 shares of the company's stock worth $1,449,000 after buying an additional 23,781 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in EverQuote in the first quarter valued at $441,000. Jackson Creek Investment Advisors LLC purchased a new stake in EverQuote during the first quarter valued at about $1,523,000. Finally, Sigma Planning Corp acquired a new stake in EverQuote during the first quarter worth about $289,000. 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.