EverQuote (NASDAQ:EVER) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded EverQuote to “Hold” from “Buy,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $28.17.
• EverQuote reported quarterly revenue of $195.09 million, up 24.6% year over year, and earnings of $0.53 per share, slightly exceeding analyst expectations.
• The stock opened at $23.14, while insiders sold 63,024 shares worth approximately $1.57 million over the past three months; institutional investors own 91.54% of outstanding shares.

EverQuote (NASDAQ:EVER - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

EVER has been the subject of a number of other research reports. JPMorgan Chase & Co. initiated coverage on shares of EverQuote in a report on Monday, August 24th. They issued an "overweight" rating and a $29.00 price objective for the company. Raymond James Financial reaffirmed an "outperform" rating and set a $28.00 target price on shares of EverQuote in a research note on Thursday, August 13th. B. Riley Financial reiterated a "buy" rating and issued a $34.00 target price (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. Zacks Research cut shares of EverQuote from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, Needham & Company LLC raised their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, EverQuote currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.17.

EverQuote Stock Up 1.1%

Shares of NASDAQ EVER opened at $23.14 on Friday. The firm has a market cap of $833.73 million, a PE ratio of 7.51 and a beta of 0.67. The business has a fifty day simple moving average of $25.03 and a two-hundred day simple moving average of $20.74. EverQuote has a twelve month low of $13.88 and a twelve month high of $28.73.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The firm had revenue of $195.09 million during the quarter, compared to analysts' expectations of $191.06 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business's revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts expect that EverQuote will post 1.72 earnings per share for the current year.

Insider Activity

In related news, Director Mira Wilczek sold 9,500 shares of EverQuote stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.07, for a total value of $238,165.00. Following the completion of the sale, the director owned 110,353 shares in the company, valued at approximately $2,766,549.71. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jon Ayotte sold 4,611 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the sale, the chief accounting officer directly owned 74,580 shares in the company, valued at approximately $1,801,107. The trade was a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 63,024 shares of company stock worth $1,567,321 in the last three months. 23.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in EverQuote during the second quarter worth about $55,000. IFP Advisors Inc boosted its stake in shares of EverQuote by 100.1% in the second quarter. IFP Advisors Inc now owns 3,219 shares of the company's stock valued at $77,000 after purchasing an additional 1,610 shares during the period. Squarepoint Ops LLC acquired a new position in shares of EverQuote in the second quarter valued at approximately $2,889,000. Allworth Financial LP grew its holdings in shares of EverQuote by 63.7% in the second quarter. Allworth Financial LP now owns 2,562 shares of the company's stock valued at $61,000 after purchasing an additional 997 shares in the last quarter. Finally, Corient Private Wealth LP lifted its holdings in EverQuote by 85.4% during the 2nd quarter. Corient Private Wealth LP now owns 79,174 shares of the company's stock worth $1,884,000 after buying an additional 36,461 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

EverQuote Company Profile

EverQuote, Inc NASDAQ: EVER operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote's marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.

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