EverQuote, Inc. (NASDAQ:EVER) Receives Average Recommendation of “Moderate Buy” from Brokerages

EverQuote, Inc. (NASDAQ:EVER) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.1667.

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group cut their price objective on EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Zacks Research downgraded EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Craig Hallum reiterated a “buy” rating and set a $20.00 price objective on shares of EverQuote in a research report on Tuesday, February 24th. JPMorgan Chase & Co. increased their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded EverQuote from a “buy” rating to a “hold” rating in a research report on Saturday.

Insider Buying and Selling at EverQuote

In other EverQuote news, CFO Joseph Sanborn sold 6,666 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $19.28, for a total transaction of $128,520.48. Following the sale, the chief financial officer directly owned 327,820 shares of the company’s stock, valued at $6,320,369.60. The trade was a 1.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Brainard sold 9,942 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total transaction of $193,073.64. Following the sale, the chief technology officer directly owned 180,493 shares in the company, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,814 shares of company stock worth $829,255. Company insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

Several large investors have recently added to or reduced their stakes in EVER. Royal Bank of Canada raised its stake in EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after purchasing an additional 61,805 shares during the period. Amundi acquired a new position in shares of EverQuote in the first quarter worth $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after acquiring an additional 624 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of EverQuote by 615.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock worth $8,896,000 after acquiring an additional 292,172 shares during the last quarter. Finally, Creative Planning increased its stake in shares of EverQuote by 32.4% in the second quarter. Creative Planning now owns 10,526 shares of the company’s stock worth $255,000 after acquiring an additional 2,576 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

EverQuote Price Performance

EVER opened at $20.49 on Wednesday. The company has a market capitalization of $738.25 million, a price-to-earnings ratio of 6.97 and a beta of 0.65. EverQuote has a 1-year low of $13.88 and a 1-year high of $28.73. The business has a 50 day moving average price of $18.02 and a two-hundred day moving average price of $20.03.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts expect that EverQuote will post 2.06 EPS for the current fiscal year.

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.