EverQuote (NASDAQ:EVER) Shares Gap Up After Earnings Beat

EverQuote, Inc. (NASDAQ:EVER)’s stock price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $20.15, but opened at $26.25. EverQuote shares last traded at $25.70, with a volume of 702,887 shares traded.

The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The company had revenue of $147.46 million for the quarter, compared to analyst estimates of $133.83 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley dropped their price target on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Thursday, December 26th. Canaccord Genuity Group decreased their target price on EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of EverQuote from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EverQuote presently has an average rating of “Buy” and a consensus target price of $31.67.

Insider Activity

In related news, Director John L. Shields sold 2,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the sale, the director now owns 28,515 shares in the company, valued at $570,300. This represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Brainard sold 14,590 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.44, for a total value of $254,449.60. Following the sale, the chief technology officer now owns 137,291 shares of the company’s stock, valued at $2,394,355.04. This trade represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,568 shares of company stock worth $1,203,872 in the last three months. Company insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EVER. Vanguard Group Inc. grew its position in shares of EverQuote by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock valued at $40,314,000 after acquiring an additional 24,347 shares during the period. Toronado Partners LLC grew its stake in shares of EverQuote by 59.7% during the 4th quarter. Toronado Partners LLC now owns 718,774 shares of the company’s stock worth $14,368,000 after acquiring an additional 268,670 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in EverQuote by 32.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company’s stock worth $13,076,000 after acquiring an additional 161,426 shares during the last quarter. Emerald Advisers LLC raised its stake in EverQuote by 165.8% in the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after acquiring an additional 399,257 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new stake in EverQuote during the fourth quarter valued at about $12,311,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Stock Up 27.1 %

The stock has a market cap of $905.20 million, a P/E ratio of 75.60 and a beta of 0.96. The business’s 50-day simple moving average is $19.74 and its two-hundred day simple moving average is $20.07.

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.