EverQuote (NASDAQ:EVER) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• EverQuote beat quarterly expectations: The company reported adjusted EPS of $0.53, $0.01 above consensus, while revenue reached $195.09 million versus estimates of $190.56 million. Net margin was 15.35% and return on equity was 53.39%.
• Shares traded lower after the results: EverQuote fell $1.12 to $24.10, though the stock remains above its 50-day and 200-day moving averages and has a market capitalization of approximately $868 million.
• Analyst sentiment remains favorable: Six analysts rate the stock a Buy and two rate it Hold, producing a “Moderate Buy” consensus with a $24.17 target price. Institutional investors own 91.54% of the company, while insiders sold shares worth about $1.24 million over the past quarter.

EverQuote (NASDAQ:EVER - Get Free Report) issued its earnings results on Monday. The company reported $0.53 earnings per share 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 firm had revenue of $195.09 million for the quarter, compared to analysts' expectations of $190.56 million.

EverQuote Price Performance

NASDAQ EVER traded down $1.12 during trading hours on Monday, hitting $24.10. The company had a trading volume of 1,057,929 shares, compared to its average volume of 866,949. EverQuote has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The company has a market capitalization of $868.32 million, a price-to-earnings ratio of 8.20 and a beta of 0.61. The firm's 50 day moving average is $22.68 and its 200 day moving average is $19.47.

Insiders Place Their Bets

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total transaction of $111,355.65. Following the transaction, the chief accounting officer owned 74,580 shares in the company, valued at $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 20,000 shares of the 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 owned 337,660 shares of the company's stock, valued at approximately $6,989,562. This trade represents a 5.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,891 shares of company stock worth $1,243,447 over the last quarter. 23.68% of the stock is owned by corporate insiders.

Institutional Trading of EverQuote

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of EverQuote by 6.0% during the third quarter. Vanguard Group Inc. now owns 2,201,338 shares of the company's stock worth $50,345,000 after purchasing an additional 123,728 shares in the last quarter. Lazard Asset Management LLC grew its holdings in EverQuote by 81.7% during the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company's stock valued at $24,333,000 after purchasing an additional 405,237 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in EverQuote by 27.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 875,702 shares of the company's stock worth $23,644,000 after buying an additional 188,335 shares during the period. Qube Research & Technologies Ltd increased its stake in EverQuote by 27.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 800,114 shares of the company's stock worth $19,347,000 after buying an additional 171,787 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in EverQuote by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 741,481 shares of the company's stock worth $20,023,000 after buying an additional 16,348 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company's stock.

Analyst Upgrades and Downgrades

EVER has been the topic of a number of research reports. Wall Street Zen upgraded EverQuote from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Weiss Ratings upgraded EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 15th. JPMorgan Chase & Co. increased their target price on shares of EverQuote from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Finally, Needham & Company LLC restated a "buy" rating and issued a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, EverQuote currently has an average rating of "Moderate Buy" and a consensus target price of $24.17.

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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