EverQuote (NASDAQ:EVER) Trading Down 3.5% - Time to Sell?

Key Points

• EverQuote shares fell 3.5% to about $25.70, with trading volume down 91% from the average daily level.
• Analyst sentiment remains generally positive but mixed: six analysts rate the stock Buy, while others issued Hold and Strong Sell ratings. The consensus is Moderate Buy with an average price target of $28.17.
• EverQuote exceeded quarterly earnings and revenue expectations, reporting $0.53 EPS and $195.09 million in revenue, up 24.6% year over year. However, insiders sold 35,020 shares worth $828,266 over the past 90 days.

EverQuote, Inc. (NASDAQ:EVER - Get Free Report)'s stock price traded down 3.5% during trading on Tuesday . The company traded as low as $26.21 and last traded at $25.6950. Approximately 74,330 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 842,200 shares. The stock had previously closed at $26.62.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EVER. Needham & Company LLC raised their price objective on shares of EverQuote from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Weiss Ratings reissued a "hold (c)" rating on shares of EverQuote in a report on Wednesday, August 12th. B. Riley Financial restated a "buy" rating and set a $34.00 price target (up from $30.00) on shares of EverQuote in a research report on Tuesday, August 4th. Zacks Research cut EverQuote from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded EverQuote from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.17.

EverQuote Stock Performance

The stock has a 50-day simple moving average of $24.39 and a 200 day simple moving average of $19.59. The stock has a market capitalization of $941.10 million, a P/E ratio of 8.47 and a beta of 0.62.

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

Insider Buying and Selling at EverQuote

In other EverQuote news, CTO David Brainard sold 4,960 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total transaction of $126,529.60. Following the completion of the sale, the chief technology officer owned 165,336 shares in the company, valued at approximately $4,217,721.36. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George R. Neble sold 2,456 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.64, for a total value of $60,515.84. Following the completion of the transaction, the director directly owned 58,140 shares in the company, valued at approximately $1,432,569.60. This trade represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 35,020 shares of company stock worth $828,266 in the last 90 days. Corporate insiders own 23.68% of the company's stock.

Hedge Funds Weigh In On EverQuote

Several hedge funds have recently added to or reduced their stakes in EVER. Comerica Bank grew its position in shares of EverQuote by 235.4% during 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 grew its holdings in shares of EverQuote by 65.5% in the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company's stock valued at $33,000 after buying an additional 842 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of EverQuote during the third quarter worth about $52,000. Clearstead Advisors LLC raised its position in shares of EverQuote by 70.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company's stock worth $54,000 after purchasing an additional 826 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of EverQuote by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company's stock valued at $79,000 after purchasing an additional 2,381 shares in 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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