EverQuote (NASDAQ:EVER) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

EverQuote (NASDAQ:EVER) announced its earnings results on Monday. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01, FiscalAI reports. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The company had revenue of $195.09 million for the quarter, compared to analyst estimates of $190.56 million.

Here are the key takeaways from EverQuote’s conference call:

• Q2 results exceeded growth expectations: Revenue rose 25% year over year to $195.1 million, while adjusted EBITDA increased 37% to a record $30.1 million, with strong operating cash flow of $24.3 million.
• Demand from insurance carriers and local agents remained healthy, with both customer groups reaching record revenue levels; the home insurance vertical grew 35% year over year to $23 million.
• EverQuote reaffirmed its path to $1 billion in annual revenue within the previously stated timeline, supported by carrier and agent growth, increased platform scale, broader solutions, and AI-driven efficiency gains.
• The company plans targeted second-half investments in AI-first products for consumers, carriers, and agents, as well as select strategic partnerships; management said these new offerings are not expected to contribute materially to revenue this year.
• EverQuote ended the quarter debt-free with $192 million in cash and repurchased approximately $9 million of stock in Q2; the board may consider authorizing a new buyback program later this year.

EverQuote Price Performance

Shares of NASDAQ EVER traded down $1.12 during mid-day trading on Monday, hitting $24.10. The company had a trading volume of 1,109,418 shares, compared to its average volume of 868,733. The company has a market capitalization of $868.32 million, a PE ratio of 8.20 and a beta of 0.61. The business’s 50-day simple moving average is $22.68 and its 200 day simple moving average is $19.47. EverQuote has a 1-year low of $13.88 and a 1-year high of $28.73.

Insider Buying and Selling

In other news, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total value of $193,073.64. Following the completion of the transaction, the chief technology officer owned 180,493 shares in the company, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph Sanborn sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $20.70, for a total value of $414,000.00. Following the transaction, the chief financial officer directly owned 337,660 shares of the company’s stock, valued at approximately $6,989,562. This represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,891 shares of company stock valued at $1,243,447 in the last three months. 23.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of 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 purchasing an additional 772 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of EverQuote during the third quarter worth $52,000. Kestra Advisory Services LLC purchased a new position in EverQuote in the fourth quarter valued at $84,000. Tower Research Capital LLC TRC raised its stake in EverQuote by 271.2% in the second 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 in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in EverQuote in the second quarter valued at $153,000. Institutional investors and hedge funds own 91.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. increased their target price on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, EverQuote has a consensus rating of “Moderate Buy” and an average target price of $24.17.

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.