EverQuote, Inc. (NASDAQ:EVER) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on EverQuote, with six buy ratings and two holds. The average 12-month price target is $24.17.
• EverQuote’s latest quarterly results exceeded expectations, with EPS of $0.51 versus $0.43 expected and revenue of $190.85 million versus $180.10 million; revenue increased 14.6% year over year.
• The stock fell 6.8% to $24.99 in the reported session, while company insiders sold 57,891 shares worth about $1.24 million during the last quarter.

Shares of EverQuote, Inc. (NASDAQ:EVER - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.1667.

A number of equities research analysts have issued reports on EVER shares. Weiss Ratings raised EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 15th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price target on shares of EverQuote in a research report on Tuesday, May 5th. Wall Street Zen raised shares of EverQuote from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EverQuote from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th.

EverQuote Trading Down 6.8%

NASDAQ EVER traded down $1.84 on Thursday, reaching $24.99. The stock had a trading volume of 41,609 shares, compared to its average volume of 858,058. EverQuote has a 1 year low of $13.88 and a 1 year high of $28.73. The business has a 50 day moving average price of $22.42 and a 200 day moving average price of $19.48. The company has a market capitalization of $900.50 million, a price-to-earnings ratio of 8.44 and a beta of 0.61.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.08. The company had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The business's quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. On average, analysts anticipate that EverQuote will post 1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 9,942 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total transaction of $193,073.64. Following the completion of the sale, the chief technology officer directly owned 180,493 shares in the company, valued at $3,505,174.06. This represents a 5.22% 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, CFO Joseph Sanborn sold 20,000 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $20.70, for a total value of $414,000.00. Following the completion of the sale, the chief financial officer directly owned 337,660 shares in the company, valued at approximately $6,989,562. This represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 57,891 shares of company stock valued at $1,243,447 in the last quarter. Insiders own 23.68% of the company's stock.

Institutional Trading of EverQuote

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank increased its position in EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company's stock worth $25,000 after buying an additional 772 shares during the period. Signature Equity Partners LLC boosted its position in shares of EverQuote by 65.5% in the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company's stock valued at $33,000 after acquiring an additional 842 shares during the period. NewEdge Advisors LLC bought a new stake in shares of EverQuote in the third quarter valued at approximately $52,000. Clearstead Advisors LLC grew its stake in shares of EverQuote by 70.5% in 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 last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of EverQuote by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company's stock worth $79,000 after acquiring an additional 2,381 shares during the last quarter. Institutional investors and hedge funds 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.

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