EverQuote (NASDAQ:EVER) Given New $38.00 Price Target at Needham & Company LLC

EverQuote (NASDAQ:EVER) had its price target hoisted by Needham & Company LLC from $30.00 to $38.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 88.59% from the company’s current price.

Several other equities research analysts have also commented on EVER. JPMorgan Chase & Co. dropped their price target on EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Canaccord Genuity Group dropped their target price on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. B. Riley reduced their price target on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Raymond James upgraded shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Thursday, December 26th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.67.

EverQuote Stock Performance

EverQuote stock opened at $20.15 on Tuesday. The company has a market cap of $712.32 million, a price-to-earnings ratio of 59.26 and a beta of 0.96. EverQuote has a 1 year low of $14.28 and a 1 year high of $28.09. The firm has a 50 day moving average price of $19.74 and a 200 day moving average price of $20.07.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. Sell-side analysts predict that EverQuote will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other news, CTO David Brainard sold 6,609 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now directly owns 156,783 shares of the company’s stock, valued at approximately $3,369,266.67. The trade was a 4.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Shields sold 2,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $20.00, for a total transaction of $40,000.00. Following the completion of the transaction, the director now 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 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 90 days. 29.79% of the stock is owned by company insiders.

Institutional Trading of EverQuote

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in EverQuote by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company’s stock valued at $40,314,000 after purchasing an additional 24,347 shares during the last quarter. Toronado Partners LLC boosted 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 valued at $14,368,000 after buying an additional 268,670 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position 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 buying an additional 161,426 shares in the last quarter. Emerald Advisers LLC grew its position in shares of EverQuote by 165.8% during the third quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock worth $13,498,000 after buying an additional 399,257 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new stake in shares of EverQuote in the fourth quarter worth $12,311,000. 91.54% of the stock is currently 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.