B. Riley Financial Cuts EverQuote (NASDAQ:EVER) Price Target to $30.00

EverQuote (NASDAQ:EVER) had its target price trimmed by B. Riley Financial from $36.00 to $30.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. Canaccord Genuity Group lowered their price target on EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC reduced their target price on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.83.

EverQuote Stock Up 1.2%

EverQuote stock opened at $16.49 on Tuesday. EverQuote has a 12 month low of $13.93 and a 12 month high of $30.03. The stock has a market cap of $592.98 million, a P/E ratio of 6.25 and a beta of 0.50. The company’s fifty day simple moving average is $21.87 and its 200-day simple moving average is $23.14.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, February 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $1.19. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.The business had revenue of $195.32 million during the quarter, compared to analyst estimates of $176.82 million. During the same period last year, the company earned $0.33 earnings per share. EverQuote’s quarterly revenue was up 32.3% compared to the same quarter last year. On average, equities research analysts expect that EverQuote will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other EverQuote news, CEO Jayme Mendal sold 14,360 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $14.98, for a total transaction of $215,112.80. Following the completion of the sale, the chief executive officer directly owned 541,777 shares in the company, valued at $8,115,819.46. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $25.73, for a total value of $51,460.00. Following the completion of the sale, the director directly owned 25,219 shares in the company, valued at approximately $648,884.87. This represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 58,888 shares of company stock valued at $1,335,743 over the last three months. Corporate insiders own 25.52% of the company’s stock.

Institutional Trading of EverQuote

Several hedge funds have recently added to or reduced their stakes in EVER. Comerica Bank grew its holdings in EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after buying an additional 772 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of EverQuote by 108.9% in the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after acquiring an additional 601 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of EverQuote in the third quarter worth $52,000. Clearstead Advisors LLC increased its position in EverQuote by 70.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in EverQuote by 595.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after purchasing an additional 2,246 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

About EverQuote

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.