EverQuote (NASDAQ:EVER) Shares Gap Down - What's Next?

Key Points

• EverQuote's share price dropped significantly from a prior close of $25.76 to an opening price of $23.67 on Tuesday.
• Analysts are generally optimistic, with a consensus rating of “Buy” and a price target averaging $32.50 for EverQuote stock.
• The company reported a quarterly earnings per share of $0.39, exceeding expectations, and noted a 33.7% year-over-year revenue increase.

EverQuote, Inc. (NASDAQ:EVER - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $25.76, but opened at $23.67. EverQuote shares last traded at $24.38, with a volume of 157,409 shares traded.

Analyst Upgrades and Downgrades

EVER has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 target price on shares of EverQuote in a report on Tuesday. JPMorgan Chase & Co. increased their price objective 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. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $32.40.

EverQuote Trading Down 4.8%

The company's 50-day moving average is $24.63 and its 200-day moving average is $23.84. The firm has a market cap of $850.67 million, a price-to-earnings ratio of 19.20 and a beta of 0.37.

EverQuote (NASDAQ:EVER - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 39.38% and a net margin of 7.57%. EverQuote's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. Equities research analysts forecast that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling at EverQuote

In other news, General Counsel Julia Brncic sold 1,808 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $24.31, for a total value of $43,952.48. Following the completion of the transaction, the general counsel owned 123,397 shares of the company's stock, valued at $2,999,781.07. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Shields sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $24.30, for a total transaction of $48,600.00. Following the completion of the transaction, the director owned 31,219 shares of the company's stock, valued at approximately $758,621.70. This trade represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,162 shares of company stock worth $1,524,781 over the last 90 days. 29.79% of the stock is owned by corporate insiders.

Institutional Trading of EverQuote

Several institutional investors have recently modified their holdings of EVER. KLP Kapitalforvaltning AS bought a new stake in shares of EverQuote in the 4th quarter valued at $90,000. Asset Management One Co. Ltd. lifted its holdings in EverQuote by 28.7% in the second quarter. Asset Management One Co. Ltd. now owns 4,682 shares of the company's stock valued at $113,000 after buying an additional 1,044 shares during the period. AlphaQuest LLC boosted its position in EverQuote by 70.9% during the second quarter. AlphaQuest LLC now owns 5,485 shares of the company's stock valued at $133,000 after acquiring an additional 2,276 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in EverQuote during the 1st quarter worth about $157,000. Finally, Tower Research Capital LLC TRC raised its position in shares of EverQuote by 23.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,968 shares of the company's stock worth $179,000 after acquiring an additional 1,724 shares in 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.