EverQuote (NASDAQ:EVER) Stock Price Up 6.9% – What’s Next?

EverQuote, Inc. (NASDAQ:EVER) shares rose 6.9% on Friday . The stock traded as high as $15.51 and last traded at $15.40. Approximately 947,884 shares were traded during trading, an increase of 13% from the average daily volume of 836,008 shares. The stock had previously closed at $14.41.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Wall Street Zen cut EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Needham & Company LLC increased their price target on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Raymond James Financial restated an “outperform” rating and set a $18.00 price target on shares of EverQuote in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $30.00.

EverQuote Price Performance

The company has a 50-day moving average of $23.02 and a 200 day moving average of $23.44. The company has a market cap of $557.02 million, a PE ratio of 10.83 and a beta of 0.50.

Insider Buying and Selling

In related news, CTO David Brainard sold 5,709 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total transaction of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares in the company, valued at approximately $2,545,155.15. This represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jon Ayotte sold 3,639 shares of EverQuote stock in a transaction on Monday, December 1st. The stock was sold at an average price of $26.76, for a total transaction of $97,379.64. Following the transaction, the chief accounting officer directly owned 49,233 shares of the company’s stock, valued at $1,317,475.08. The trade was a 6.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 43,768 shares of company stock worth $1,122,957. 25.52% of the stock is owned by company insiders.

Institutional Trading of EverQuote

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVER. Vanguard Group Inc. lifted its stake in EverQuote by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company’s stock worth $59,980,000 after purchasing an additional 20,156 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of EverQuote by 81.7% in the fourth quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after buying an additional 405,237 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of EverQuote by 27.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 875,702 shares of the company’s stock worth $23,644,000 after acquiring an additional 188,335 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in EverQuote by 1.2% during the 2nd quarter. Acadian Asset Management LLC now owns 866,481 shares of the company’s stock valued at $20,939,000 after acquiring an additional 10,233 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in EverQuote by 27.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 800,114 shares of the company’s stock valued at $19,347,000 after acquiring an additional 171,787 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 insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.