EverQuote (NASDAQ:EVER) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded EverQuote to “Buy” from “Hold,” joining six other analysts with Buy ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $28.17.
• EverQuote reported quarterly EPS of $0.53, exceeding estimates by $0.01, while revenue reached $195.09 million, up 24.6% year over year and above consensus expectations.
• Shares opened at $23.98, with a market capitalization of approximately $864 million. Insiders sold 42,043 shares worth about $1.06 million during the last quarter, while institutional investors own 91.54% of the stock.

EverQuote (NASDAQ:EVER - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

EVER has been the subject of several other research reports. B. Riley Financial reaffirmed a "buy" rating and set a $34.00 price target (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Needham & Company LLC raised their price objective on EverQuote from $25.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded EverQuote from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. Raymond James Financial reaffirmed an "outperform" rating and issued a $28.00 target price on shares of EverQuote in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of EverQuote in a research report on Monday, August 24th. They set an "overweight" rating and a $29.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.17.

EverQuote Price Performance

Shares of NASDAQ:EVER opened at $23.98 on Friday. The company's fifty day moving average price is $25.19 and its 200-day moving average price is $20.47. The firm has a market capitalization of $864.00 million, a price-to-earnings ratio of 7.79 and a beta of 0.67. EverQuote has a one year low of $13.88 and a one year high of $28.73.

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

Insider Buying and Selling at EverQuote

In other news, Director George R. Neble sold 2,456 shares of EverQuote stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.64, for a total value of $60,515.84. Following the transaction, the director owned 58,140 shares in the company, valued at approximately $1,432,569.60. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Shields sold 3,126 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.39, for a total value of $82,495.14. Following the completion of the sale, the director directly owned 31,198 shares of the company's stock, valued at approximately $823,315.22. This trade represents a 9.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 42,043 shares of company stock valued at $1,058,112. 23.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverQuote

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.