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

EverQuote, Inc. (NASDAQ:EVER) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $25.6667.

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report 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. Needham & Company LLC increased their price objective on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen upgraded shares of EverQuote from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $34.00 target price (up from $30.00) on shares of EverQuote in a research report on Tuesday.

EverQuote Price Performance

EverQuote stock opened at $23.57 on Thursday. EverQuote has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The firm has a fifty day moving average price of $22.96 and a two-hundred day moving average price of $19.43. The firm has a market cap of $849.23 million, a price-to-earnings ratio of 7.65 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. EverQuote had a return on equity of 52.53% and a net margin of 15.16%.The company had revenue of $195.09 million for the quarter, compared to the consensus estimate of $191.06 million. During the same period last year, the business posted $0.39 earnings per share. The firm’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that EverQuote will post 1.72 earnings per share for the current year.

Insider Buying and Selling at EverQuote

In other EverQuote news, CTO David Brainard sold 4,960 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total value of $126,529.60. Following the sale, the chief technology officer directly owned 165,336 shares in the company, valued at $4,217,721.36. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph Sanborn sold 6,667 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total transaction of $164,208.21. Following the transaction, the chief financial officer owned 311,908 shares in the company, valued at approximately $7,682,294.04. The trade was a 2.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,586 shares of company stock valued at $629,114 in the last ninety days. Company insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

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

EverQuote News Summary

Here are the key news stories impacting EverQuote this week:

• Positive Sentiment: Q2 results exceeded expectations: EverQuote reported $195.1 million in revenue, up 24.6% year over year, and adjusted earnings of $0.53 per share, slightly above consensus. Growth was driven by its Automotive and Home & Renters insurance businesses. EVER Q2 Beat Earnings Estimates on Auto, Home Insurance Growth
• Positive Sentiment: Analysts raised their targets: B. Riley reaffirmed its “buy” rating and lifted its price target to $34 from $30, while Needham raised its target to $30 from $25 and also maintained a “buy” rating. These targets imply substantial upside from recent trading levels. Needham Raises EverQuote Price Target
• Positive Sentiment: Growth outlook remains constructive: Management expects third-quarter revenue of $198 million to $208 million and continues to target a path toward $1 billion in annual revenue. An analyst view also highlighted roughly 20% revenue growth, improving marketing efficiency, AI-related initiatives and more than 30% adjusted EBITDA growth. EverQuote Q3 Revenue Outlook
• Neutral Sentiment: Investor outreach is planned: EverQuote will present and hold one-on-one meetings at upcoming investor conferences. These events could provide additional visibility into insurance-market demand and its long-term growth targets, but they do not immediately change earnings. EverQuote to Present at Upcoming Investor Conferences
• Negative Sentiment: Mixed analyst sentiment and post-earnings weakness are weighing on the stock: Although several firms are bullish, coverage remains mixed and the shares declined after the earnings release. This suggests investors may have expected a stronger outlook or are taking profits after EverQuote’s significant advance toward its 52-week high. EverQuote Sales Beat Estimates but Stock Drops

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.