EverQuote (NASDAQ:EVER) Given Buy Rating at Needham & Company LLC

Key Points

• EverQuote's stock has been given a buy rating by Needham & Company LLC, with a price target of $38.00, indicating a potential upside of 47.52% from its previous close.
• JPMorgan Chase & Co. raised their target price for EverQuote from $29.00 to $30.00 and rated the stock as overweight.
• EverQuote reported a 33.7% increase in quarterly revenue year-over-year, with earnings per share exceeding analysts' expectations.

EverQuote (NASDAQ:EVER - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $38.00 price objective on the stock. Needham & Company LLC's price target indicates a potential upside of 47.52% from the stock's previous close.

Separately, JPMorgan Chase & Co. boosted their target price on shares of EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $32.50.

EverQuote Stock Up 6.9%

Shares of NASDAQ EVER opened at $25.76 on Tuesday. EverQuote has a fifty-two week low of $16.63 and a fifty-two week high of $30.03. The business has a 50 day moving average price of $24.59 and a two-hundred day moving average price of $23.83. The firm has a market cap of $920.15 million, a PE ratio of 25.26 and a beta of 0.37.

EverQuote (NASDAQ:EVER - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.04. The business had revenue of $156.63 million during the quarter, compared to the consensus estimate of $157.19 million. EverQuote had a net margin of 6.64% and a return on equity of 35.40%. The business's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. On average, analysts anticipate that EverQuote will post 0.72 earnings per share for the current year.

Insider Activity

In other news, Director John L. Shields sold 2,000 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $24.30, for a total value of $48,600.00. Following the transaction, the director directly owned 31,219 shares in the company, valued at approximately $758,621.70. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph Sanborn sold 1,063 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $24.13, for a total transaction of $25,650.19. Following the sale, the chief financial officer directly owned 261,390 shares of the company's stock, valued at approximately $6,307,340.70. This represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,162 shares of company stock valued at $1,524,781 over the last three months. 29.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EverQuote

A number of large investors have recently bought and sold shares of the business. Emerald Mutual Fund Advisers Trust raised its position in shares of EverQuote by 13.4% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 362,967 shares of the company's stock worth $8,777,000 after purchasing an additional 42,870 shares during the period. Emerald Advisers LLC grew its stake in EverQuote by 39.6% during the 2nd quarter. Emerald Advisers LLC now owns 619,585 shares of the company's stock worth $14,982,000 after buying an additional 175,884 shares during the last quarter. Teacher Retirement System of Texas increased its position in EverQuote by 1.8% in the second quarter. Teacher Retirement System of Texas now owns 54,318 shares of the company's stock worth $1,313,000 after buying an additional 952 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in EverQuote by 579.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 65,246 shares of the company's stock valued at $1,578,000 after buying an additional 55,641 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in EverQuote by 20.3% in the second quarter. Envestnet Asset Management Inc. now owns 45,146 shares of the company's stock valued at $1,092,000 after buying an additional 7,616 shares during the last quarter. 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.

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