EverQuote (NASDAQ:EVER) Reaches New 1-Year High Following Strong Earnings

EverQuote, Inc. (NASDAQ:EVER)’s share price hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $23.73 and last traded at $23.50, with a volume of 303053 shares trading hands. The stock had previously closed at $21.36.

The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. EverQuote had a negative net margin of 17.81% and a negative return on equity of 34.38%. The company had revenue of $91.07 million during the quarter, compared to analysts’ expectations of $80.36 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s revenue was down 16.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

EVER has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of EverQuote from $13.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. B. Riley initiated coverage on shares of EverQuote in a research report on Friday, April 19th. They set a “buy” rating and a $24.00 price target for the company. Finally, Needham & Company LLC increased their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, EverQuote has a consensus rating of “Buy” and an average target price of $23.00.

Insider Activity

In related news, major shareholder Ventures Lllp Link sold 2,730 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total transaction of $59,732.40. Following the sale, the insider now owns 1,553,430 shares of the company’s stock, valued at $33,989,048.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David B. Blundin sold 23,362 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total transaction of $511,160.56. Following the transaction, the director now owns 511,696 shares in the company, valued at $11,195,908.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ventures Lllp Link sold 2,730 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total transaction of $59,732.40. Following the sale, the insider now owns 1,553,430 shares of the company’s stock, valued at $33,989,048.40. The disclosure for this sale can be found here. Insiders sold a total of 524,065 shares of company stock worth $9,544,076 in the last quarter. 29.79% of the stock is owned by company insiders.

Institutional Trading of EverQuote

Large investors have recently modified their holdings of the company. Earnest Partners LLC lifted its stake in shares of EverQuote by 44.2% during the 3rd quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock valued at $13,980,000 after buying an additional 592,262 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in EverQuote by 193.7% during the third quarter. Envestnet Asset Management Inc. now owns 716,865 shares of the company’s stock worth $5,183,000 after acquiring an additional 472,821 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of EverQuote by 9.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock worth $4,009,000 after purchasing an additional 45,813 shares during the period. HST Ventures LLC raised its holdings in EverQuote by 13.9% during the 4th quarter. HST Ventures LLC now owns 291,705 shares of the company’s stock valued at $3,570,000 after buying an additional 35,624 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of EverQuote by 21.3% in the third quarter. Acadian Asset Management LLC now owns 220,251 shares of the company’s stock valued at $1,592,000 after acquiring an additional 38,663 shares during the period. Institutional investors own 91.54% of the company’s stock.

EverQuote Price Performance

The firm has a fifty day moving average price of $18.30 and a two-hundred day moving average price of $13.60. The stock has a market capitalization of $822.55 million, a PE ratio of -15.42 and a beta of 0.85.

About EverQuote

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.