EverQuote (NASDAQ:EVER) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded EverQuote from buy to hold, even though the broader analyst view remains positive with an average rating of Moderate Buy and a $24.17 price target.
• EverQuote posted strong quarterly results, reporting $0.51 EPS versus $0.43 expected and revenue of $190.85 million versus $180.10 million expected, with revenue up 14.6% year over year.
• Insiders have been selling shares recently, including the CFO and CTO, while institutional investors continue to own the vast majority of the stock at 91.54%.

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

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 15th. Raymond James Financial restated an "outperform" rating and set a $18.00 price target on shares of EverQuote in a report on Tuesday, February 17th. JPMorgan Chase & Co. increased their price target on EverQuote from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group cut their price target on EverQuote from $33.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.17.

EverQuote Stock Performance

NASDAQ:EVER opened at $19.98 on Friday. The company has a market capitalization of $719.88 million, a PE ratio of 6.80 and a beta of 0.65. The company has a 50 day simple moving average of $17.82 and a two-hundred day simple moving average of $20.14. EverQuote has a fifty-two week low of $13.88 and a fifty-two week high of $28.73.

EverQuote (NASDAQ:EVER - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.08. The business had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The company's revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Research analysts predict that EverQuote will post 2.06 EPS for the current year.

Insider Transactions at EverQuote

In other news, CFO Joseph Sanborn sold 20,000 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $20.70, for a total transaction of $414,000.00. Following the completion of the sale, the chief financial officer directly owned 337,660 shares of the company's stock, valued at $6,989,562. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Brainard sold 9,942 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was 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 owned 180,493 shares in the company, valued at $3,505,174.06. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,814 shares of company stock valued at $829,255 over the last quarter. Corporate insiders own 23.68% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVER. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of EverQuote by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company's stock valued at $393,000 after buying an additional 624 shares during the last quarter. Cetera Investment Advisers lifted its stake in EverQuote by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company's stock valued at $392,000 after acquiring an additional 675 shares in the last quarter. Comerica Bank lifted its stake in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company's stock valued at $25,000 after acquiring an additional 772 shares in the last quarter. Legal & General Group Plc boosted its holdings in EverQuote by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 24,301 shares of the company's stock worth $556,000 after acquiring an additional 776 shares during the last quarter. Finally, Zacks Investment Management boosted its holdings in EverQuote by 1.2% during the 4th quarter. Zacks Investment Management now owns 66,281 shares of the company's stock worth $1,790,000 after acquiring an additional 782 shares during the last quarter. Institutional investors 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.

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.