Wells Fargo & Company Forecasts Strong Price Appreciation for Everest Group (NYSE:EG) Stock

Key Points

• Wells Fargo raised its price target on Everest Group (NYSE:EG) from $332 to $356 and maintained an "equal weight" rating, implying only about a 0.89% upside from the prior close.
• Analyst coverage is mixed—MarketBeat shows a consensus "Hold" with an average target of $369.93 (five Buy, eleven Hold), while individual targets range widely, including Bank of America's $454 Buy target.
• Everest reported quarterly EPS of $16.08, beating estimates by $2.11, but revenue declined 4.6% year-over-year and missed consensus; institutional ownership is very high at 92.64%, with large recent purchases by Norges Bank, AQR and others.

Everest Group (NYSE:EG - Get Free Report) had its price objective lifted by equities researchers at Wells Fargo & Company from $332.00 to $356.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 0.89% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods cut their price objective on Everest Group from $430.00 to $402.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Evercore set a $365.00 price objective on Everest Group in a research report on Wednesday, January 7th. Weiss Ratings restated a "hold (c)" rating on shares of Everest Group in a report on Thursday, January 22nd. Bank of America boosted their price target on Everest Group from $430.00 to $454.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Finally, Cantor Fitzgerald cut their price objective on shares of Everest Group from $348.00 to $344.00 and set a "neutral" rating on the stock in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of "Hold" and an average target price of $369.93.

Everest Group Price Performance

Shares of NYSE EG opened at $352.86 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.35. Everest Group has a fifty-two week low of $302.44 and a fifty-two week high of $368.29. The stock's 50-day simple moving average is $333.41 and its 200-day simple moving average is $329.44. The firm has a market capitalization of $17.55 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 0.26 and a beta of 0.35.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $16.08 earnings per share for the quarter, beating the consensus estimate of $13.97 by $2.11. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.17 billion. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The business's quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $6.45 EPS. As a group, equities research analysts forecast that Everest Group will post 53.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Everest Group

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at about $630,277,000. AQR Capital Management LLC boosted its position in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock worth $695,275,000 after purchasing an additional 830,418 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Everest Group by 12,322.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock valued at $176,205,000 after buying an additional 515,063 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company's stock valued at $147,102,000 after purchasing an additional 375,846 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Everest Group by 181.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company's stock valued at $169,233,000 after buying an additional 321,376 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

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.

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