JPMorgan Chase & Co. Lowers EverQuote (NASDAQ:EVER) Price Target to $25.00

EverQuote (NASDAQ:EVER) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $28.00 to $25.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 37.21% from the company’s current price.

A number of other analysts have also recently weighed in on EVER. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research note on Thursday, December 26th. B. Riley reduced their price objective on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.67.

EverQuote Stock Performance

EverQuote stock opened at $18.22 on Friday. EverQuote has a 52 week low of $10.21 and a 52 week high of $28.09. The stock has a fifty day moving average of $18.80 and a 200-day moving average of $20.77. The stock has a market capitalization of $644.10 million, a P/E ratio of 53.59 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $144.53 million for the quarter, compared to the consensus estimate of $140.30 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The firm’s quarterly revenue was up 162.7% compared to the same quarter last year. During the same period last year, the company posted ($0.40) EPS. On average, research analysts forecast that EverQuote will post 0.72 earnings per share for the current year.

Insider Activity

In other news, CTO David Brainard sold 3,675 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.52, for a total transaction of $71,736.00. Following the completion of the transaction, the chief technology officer now directly owns 108,244 shares in the company, valued at $2,112,922.88. This trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 53,641 shares of company stock valued at $1,024,594. Insiders own 29.79% of the company’s stock.

Institutional Trading of EverQuote

Several institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust lifted its position in shares of EverQuote by 572.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 504,081 shares of the company’s stock worth $10,631,000 after purchasing an additional 429,084 shares during the period. Emerald Advisers LLC lifted its holdings in EverQuote by 165.8% in the third quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after buying an additional 399,257 shares during the period. JPMorgan Chase & Co. boosted its position in EverQuote by 3,022.8% during the third quarter. JPMorgan Chase & Co. now owns 385,629 shares of the company’s stock valued at $8,133,000 after acquiring an additional 373,280 shares during the last quarter. Renaissance Technologies LLC grew its holdings in EverQuote by 331.9% during the 2nd quarter. Renaissance Technologies LLC now owns 293,708 shares of the company’s stock worth $6,127,000 after acquiring an additional 225,700 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of EverQuote by 335.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 265,944 shares of the company’s stock worth $5,548,000 after acquiring an additional 204,835 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors.

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.