EverQuote (NASDAQ:EVER) Releases Earnings Results, Beats Estimates By $1.19 EPS

EverQuote (NASDAQ:EVER) released its quarterly earnings data on Monday. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $0.35 by $1.19, FiscalAI reports. EverQuote had a net margin of 8.36% and a return on equity of 38.19%. The company had revenue of $195.32 million for the quarter, compared to analyst estimates of $176.82 million.

EverQuote Trading Down 1.1%

Shares of NASDAQ:EVER traded down $0.17 on Monday, reaching $15.32. 2,061,822 shares of the company’s stock were exchanged, compared to its average volume of 897,401. EverQuote has a twelve month low of $13.93 and a twelve month high of $30.03. The company has a fifty day moving average of $22.77 and a 200-day moving average of $23.36. The company has a market capitalization of $550.91 million, a price-to-earnings ratio of 10.71 and a beta of 0.50.

Insider Buying and Selling

In other EverQuote news, CAO Jon Ayotte sold 3,639 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $26.76, for a total transaction of $97,379.64. Following the completion of the transaction, the chief accounting officer directly owned 49,233 shares in the company, valued at $1,317,475.08. The trade was a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Shields sold 2,000 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $25.73, for a total value of $51,460.00. Following the sale, the director owned 25,219 shares of the company’s stock, valued at $648,884.87. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 43,768 shares of company stock valued at $1,122,957. 25.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

Institutional investors have recently modified their holdings of the business. Comerica Bank grew its stake in shares of EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after purchasing an additional 772 shares during the last quarter. NewEdge Advisors LLC acquired a new position in EverQuote during the 3rd quarter worth about $52,000. Tower Research Capital LLC TRC grew its position in shares of EverQuote by 271.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after buying an additional 2,381 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of EverQuote in the 4th quarter valued at about $84,000. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of EverQuote in the second quarter valued at about $153,000. Institutional investors and hedge funds own 91.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Needham & Company LLC increased their price target on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Zacks Research raised shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $30.00.

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.