EverQuote (NASDAQ:EVER) Price Target Cut to $30.00 by Analysts at Canaccord Genuity Group

EverQuote (NASDAQ:EVER) had its price target dropped by analysts at Canaccord Genuity Group from $35.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 44.40% from the company’s current price.

EVER has been the subject of a number of other reports. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Thursday, December 26th. JPMorgan Chase & Co. lowered their price target on EverQuote from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, B. Riley cut their price objective on EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, EverQuote presently has a consensus rating of “Buy” and an average price target of $31.67.

EverQuote Stock Performance

Shares of EVER opened at $20.78 on Monday. The firm has a market capitalization of $734.40 million, a price-to-earnings ratio of 61.10 and a beta of 0.96. The stock’s fifty day moving average is $19.69 and its 200-day moving average is $20.09. EverQuote has a one year low of $14.28 and a one year high of $28.09.

Insider Activity

In other news, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the transaction, the director now directly owns 28,515 shares of the company’s stock, valued at $570,300. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Brainard sold 6,609 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $21.49, for a total transaction of $142,027.41. Following the completion of the sale, the chief technology officer now owns 156,783 shares of the company’s stock, valued at approximately $3,369,266.67. This trade represents a 4.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,412 shares of company stock worth $1,178,790. Insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in EverQuote by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock worth $40,314,000 after acquiring an additional 24,347 shares during the period. Toronado Partners LLC lifted its position in shares of EverQuote by 59.7% in the fourth quarter. Toronado Partners LLC now owns 718,774 shares of the company’s stock worth $14,368,000 after purchasing an additional 268,670 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of EverQuote by 32.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company’s stock worth $13,076,000 after purchasing an additional 161,426 shares during the period. Emerald Advisers LLC grew its position in EverQuote by 165.8% during the third quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after purchasing an additional 399,257 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in EverQuote in the 4th quarter valued at approximately $12,311,000. 91.54% of the stock is owned by institutional investors and hedge funds.

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.