EverQuote (NASDAQ:EVER) Announces Earnings Results, Beats Expectations By $0.12 EPS

EverQuote (NASDAQ:EVER - Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12, Briefing.com reports. The company had revenue of $91.07 million during the quarter, compared to analysts' expectations of $80.36 million. EverQuote had a negative net margin of 17.81% and a negative return on equity of 34.38%. The firm's revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. EverQuote updated its Q2 2024 guidance to EPS.

EverQuote Price Performance

EVER stock traded up $3.93 during trading on Tuesday, reaching $25.29. The company had a trading volume of 2,451,544 shares, compared to its average volume of 405,841. EverQuote has a 52 week low of $5.36 and a 52 week high of $25.69. The company has a market cap of $865.68 million, a P/E ratio of -16.42 and a beta of 0.85. The business has a 50 day moving average of $18.38 and a 200 day moving average of $13.69.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on EverQuote from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday. B. Riley boosted their price objective on EverQuote from $24.00 to $29.50 and gave the company a "buy" rating in a research report on Tuesday. Craig Hallum raised their target price on shares of EverQuote from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday. Needham & Company LLC upped their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of EverQuote from $13.00 to $25.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $26.25.

Insider Activity

In related news, major shareholder Ventures Lllp Link sold 2,730 shares of the company's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $21.88, for a total value of $59,732.40. Following the sale, the insider now directly owns 1,553,430 shares of the company's stock, valued at $33,989,048.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other EverQuote news, major shareholder Ventures Lllp Link sold 2,730 shares of EverQuote stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $21.88, for a total transaction of $59,732.40. Following the completion of the transaction, the insider now owns 1,553,430 shares in the company, valued at $33,989,048.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Blundin sold 23,362 shares of the firm's stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total value of $511,160.56. Following the transaction, the director now owns 511,696 shares of the company's stock, valued at $11,195,908.48. The disclosure for this sale can be found here. Insiders sold a total of 524,065 shares of company stock worth $9,544,076 in the last quarter. 29.79% of the stock is owned by company insiders.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.