EverQuote, Inc. (NASDAQ:EVER) Receives $34.25 Average PT from Brokerages

Shares of EverQuote, Inc. (NASDAQ:EVER) have received a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $34.25.

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Needham & Company LLC increased their price objective on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research report on Wednesday, October 8th.

EverQuote Trading Down 2.3%

EVER opened at $26.73 on Wednesday. The firm has a market cap of $961.21 million, a price-to-earnings ratio of 18.69 and a beta of 0.46. EverQuote has a 12 month low of $17.20 and a 12 month high of $30.03. The stock has a fifty day moving average price of $24.54 and a 200-day moving average price of $24.16.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. The company had revenue of $173.94 million for the quarter, compared to the consensus estimate of $166.09 million. EverQuote had a return on equity of 38.19% and a net margin of 8.36%.The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. On average, equities research analysts forecast that EverQuote will post 0.72 EPS for the current year.

Insiders Place Their Bets

In related news, CTO David Brainard sold 1,291 shares of EverQuote stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $26.40, for a total value of $34,082.40. Following the completion of the sale, the chief technology officer directly owned 112,661 shares in the company, valued at $2,974,250.40. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jon Ayotte sold 3,639 shares of the business’s 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 sale, the chief accounting officer directly owned 49,233 shares in the company, valued at approximately $1,317,475.08. This represents a 6.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 58,833 shares of company stock worth $1,380,306 in the last three months. Insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On EverQuote

A number of large investors have recently made changes to their positions in EVER. Cetera Investment Advisers acquired a new position in shares of EverQuote in the 1st quarter valued at $407,000. Invesco Ltd. purchased a new stake in EverQuote during the 1st quarter valued at about $558,000. Nuveen LLC acquired a new position in shares of EverQuote in the first quarter valued at about $15,363,000. HighTower Advisors LLC acquired a new position in shares of EverQuote in the first quarter valued at about $687,000. Finally, Russell Investments Group Ltd. raised its stake in shares of EverQuote by 358.7% in the first quarter. Russell Investments Group Ltd. now owns 70,000 shares of the company’s stock worth $1,837,000 after purchasing an additional 54,741 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.