EverQuote (NASDAQ:EVER) Stock Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• EverQuote shares moved above their 50-day moving average, reaching $23.17 and last trading at $22.80, compared with a 50-day average of $22.37.
• Analysts remain generally positive, with six Buy ratings and two Holds, a consensus “Moderate Buy” rating, and an average price target of $28.17.
• The company reported better-than-expected quarterly results, including $0.53 earnings per share and $195.09 million in revenue, up 24.6% year over year; however, insiders sold 75,681 shares worth about $1.73 million during the last quarter.

EverQuote, Inc. (NASDAQ:EVER - Get Free Report)'s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $22.37 and traded as high as $23.17. EverQuote shares last traded at $22.80, with a volume of 823,915 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EVER. Raymond James Financial restated an "outperform" rating and set a $28.00 price objective on shares of EverQuote in a research report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of EverQuote in a research note on Monday, August 24th. They set an "overweight" rating and a $29.00 target price on the stock. Needham & Company LLC boosted their target price on shares of EverQuote from $25.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Zacks Research raised shares of EverQuote from a "strong sell" rating to a "hold" rating in a research note on Friday, October 2nd. Finally, Wall Street Zen downgraded shares of EverQuote from a "buy" rating to a "hold" rating in a report on Sunday, September 20th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, EverQuote presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.17.

EverQuote Stock Performance

The company has a 50 day moving average of $22.37 and a 200-day moving average of $20.55. The stock has a market cap of $821.48 million, a price-to-earnings ratio of 7.40 and a beta of 0.68.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The business had revenue of $195.09 million during the quarter, compared to analyst estimates of $191.06 million. During the same quarter last year, the firm posted $0.39 earnings per share. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that EverQuote, Inc. will post 1.72 EPS for the current year.

Insiders Place Their Bets

In related news, CTO David Brainard sold 2,626 shares of the business's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $19.90, for a total value of $52,257.40. Following the completion of the sale, the chief technology officer directly owned 150,178 shares of the company's stock, valued at $2,988,542.20. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayme Mendal sold 20,981 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $24.27, for a total value of $509,208.87. Following the completion of the sale, the chief executive officer directly owned 591,160 shares of the company's stock, valued at $14,347,453.20. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,681 shares of company stock worth $1,730,822. 23.68% of the stock is currently owned by company insiders.

Institutional Trading of EverQuote

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in EverQuote by 28.9% during the 1st quarter. Renaissance Technologies LLC now owns 941,467 shares of the company's stock valued at $14,517,000 after buying an additional 211,360 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of EverQuote by 47.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company's stock worth $13,412,000 after acquiring an additional 293,160 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of EverQuote by 1.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 743,869 shares of the company's stock valued at $11,470,000 after acquiring an additional 13,276 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of EverQuote by 37.7% during the first quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company's stock valued at $10,728,000 after acquiring an additional 190,438 shares during the last quarter. Finally, Jacobs Asset Management LLC boosted its stake in shares of EverQuote by 199.9% during the first quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company's stock valued at $6,219,000 after acquiring an additional 268,819 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace that connects consumers seeking insurance with insurance providers and distribution partners. The company uses technology, data, and digital marketing to help consumers compare insurance options and obtain quotes.

Its platform has primarily focused on auto insurance, while also supporting other insurance categories, including home and renters insurance. EverQuote generates business by providing insurance carriers and agents with consumer referrals and opportunities to reach people who are actively shopping for coverage.

Founded in 2010 and headquartered in Cambridge, Massachusetts, EverQuote serves the United States insurance market.

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