EverQuote (NASDAQ:EVER) Stock Price Up 6.9% – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER) rose 6.9% on Friday . The stock traded as high as $15.51 and last traded at $15.40. Approximately 947,884 shares changed hands during mid-day 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

A number of equities analysts recently commented on the company. Needham & Company LLC upped their target price on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $18.00 target price on shares of EverQuote in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, EverQuote currently has an average rating of “Buy” and a consensus target price of $30.00.

EverQuote Trading Up 7.5%

The firm has a fifty day moving average of $23.02 and a 200 day moving average of $23.44. The company has a market capitalization of $557.02 million, a P/E ratio of 10.83 and a beta of 0.50.

Insider Activity at EverQuote

In related news, CTO David Brainard sold 5,709 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the transaction, the chief technology officer owned 101,603 shares in the company, valued at $2,545,155.15. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jon Ayotte sold 3,639 shares of EverQuote stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 49,233 shares of the company’s stock, valued at approximately $1,317,475.08. This trade represents a 6.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,768 shares of company stock valued at $1,122,957 over the last ninety days. Company insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Emerald Advisers LLC grew its position in shares of EverQuote by 11.2% during the third quarter. Emerald Advisers LLC now owns 689,253 shares of the company’s stock worth $15,763,000 after purchasing an additional 69,668 shares in the last quarter. D.A. Davidson & CO. bought a new position in EverQuote in the 3rd quarter worth approximately $1,100,000. Allspring Global Investments Holdings LLC grew its holdings in EverQuote by 37.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 475,691 shares of the company’s stock valued at $10,546,000 after buying an additional 128,426 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of EverQuote by 75.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 114,451 shares of the company’s stock valued at $2,617,000 after buying an additional 49,205 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of EverQuote by 14.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 416,662 shares of the company’s stock valued at $9,529,000 after buying an additional 53,695 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.

About EverQuote

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.