EverQuote (NASDAQ:EVER) Trading Down 6.3% - Time to Sell?

Key Points

• EverQuote shares fell 6.3% to about $23.36, with trading volume 72% below the average session level.
• Analyst sentiment remains broadly positive: six analysts rate the stock a Buy, one a Hold and one a Sell, producing a “Moderate Buy” consensus and a $28.17 average price target.
• The company exceeded quarterly expectations with $0.53 EPS and $195.1 million in revenue, while revenue grew 24.6% year over year; however, insiders have sold 42,043 shares worth roughly $1.06 million over the past three months.

EverQuote, Inc. (NASDAQ:EVER - Get Free Report) was down 6.3% on Wednesday . The company traded as low as $23.08 and last traded at $23.3640. 232,865 shares changed hands during trading, a decline of 72% from the average session volume of 820,654 shares. The stock had previously closed at $24.94.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVER. Needham & Company LLC increased their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Zacks Research cut EverQuote from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on EverQuote in a report on Monday, August 24th. They set an "overweight" rating and a $29.00 price objective on the stock. B. Riley Financial reissued a "buy" rating and set a $34.00 price objective (up from $30.00) on shares of EverQuote in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised EverQuote from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.17.

EverQuote Stock Down 6.2%

The firm has a market cap of $842.56 million, a price-to-earnings ratio of 7.60 and a beta of 0.67. The firm has a fifty day moving average price of $25.27 and a 200-day moving average price of $20.32.

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

Insider Buying and Selling

In other EverQuote news, CAO Jon Ayotte sold 1,436 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.47, for a total value of $38,010.92. Following the transaction, the chief accounting officer owned 74,272 shares of the company's stock, valued at $1,965,979.84. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Shields sold 3,126 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $26.39, for a total transaction of $82,495.14. Following the transaction, the director directly owned 31,198 shares of the company's stock, valued at approximately $823,315.22. This trade represents a 9.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,043 shares of company stock worth $1,058,112. 23.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverQuote

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVER. Vanguard Group Inc. boosted its stake in shares of EverQuote by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company's stock worth $59,980,000 after acquiring an additional 20,156 shares in the last quarter. Renaissance Technologies LLC increased its position in EverQuote by 28.9% in the 1st quarter. Renaissance Technologies LLC now owns 941,467 shares of the company's stock worth $14,517,000 after purchasing an additional 211,360 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in EverQuote by 47.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company's stock valued at $13,412,000 after acquiring an additional 293,160 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of 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. Finally, Balyasny Asset Management L.P. lifted its stake in shares of EverQuote by 27.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 875,702 shares of the company's stock valued at $23,644,000 after purchasing an additional 188,335 shares during the last quarter. 91.54% of the stock is owned by institutional investors.

EverQuote Company Profile

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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