Everest Group (NYSE:EG) Price Target Cut to $310.00 by Analysts at Wells Fargo & Company

Everest Group (NYSE:EG) had its target price decreased by analysts at Wells Fargo & Company from $332.00 to $310.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 6.18% from the stock’s previous close.

A number of other research firms also recently commented on EG. Keefe, Bruyette & Woods upped their price objective on Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating and set a $350.00 target price on shares of Everest Group in a research note on Monday, November 3rd. Cantor Fitzgerald decreased their price target on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Finally, Evercore ISI set a $365.00 price target on shares of Everest Group in a research report on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $363.07.

Everest Group Price Performance

Shares of EG traded up $4.54 during trading hours on Friday, reaching $330.43. The company had a trading volume of 104,699 shares, compared to its average volume of 352,791. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.23 and a beta of 0.36. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $326.83 and a 200-day simple moving average of $332.55. Everest Group has a 12-month low of $302.44 and a 12-month high of $370.20.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.63% and a net margin of 9.09%.The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted ($18.39) EPS. The business’s revenue was down 4.6% on a year-over-year basis. Research analysts expect that Everest Group will post 47.93 earnings per share for the current year.

Hedge Funds Weigh In On Everest Group

Institutional investors and hedge funds have recently modified their holdings of the business. Natixis grew its stake in shares of Everest Group by 1,456.3% during the second quarter. Natixis now owns 65,941 shares of the company’s stock worth $22,410,000 after buying an additional 61,704 shares during the last quarter. Osaic Holdings Inc. grew its position in Everest Group by 1,863.2% during the 2nd quarter. Osaic Holdings Inc. now owns 25,208 shares of the company’s stock worth $9,137,000 after acquiring an additional 23,924 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in Everest Group by 37.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 336,692 shares of the company’s stock worth $114,425,000 after purchasing an additional 91,799 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Everest Group by 4.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 652,194 shares of the company’s stock valued at $228,418,000 after purchasing an additional 29,586 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Everest Group by 157.9% during the third quarter. Brighton Jones LLC now owns 6,635 shares of the company’s stock valued at $2,324,000 after purchasing an additional 4,062 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

About Everest Group

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.