EverQuote (NASDAQ:EVER) Hits New 1-Year Low – Should You Sell?

EverQuote, Inc. (NASDAQ:EVER)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $18.74 and last traded at $18.7680, with a volume of 1005523 shares traded. The stock had previously closed at $22.50.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Zacks Research upgraded EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Needham & Company LLC increased their price target on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $34.00.

EverQuote Stock Performance

The stock has a market cap of $685.68 million, a PE ratio of 13.34 and a beta of 0.46. The company’s 50-day moving average price is $25.90 and its 200 day moving average price is $24.25.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. EverQuote had a return on equity of 38.19% and a net margin of 8.36%.The company had revenue of $173.94 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. As a group, equities research analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at EverQuote

In related news, CEO Jayme Mendal sold 14,360 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $24.15, for a total value of $346,794.00. Following the sale, the chief executive officer directly owned 406,404 shares in the company, valued at approximately $9,814,656.60. The trade was a 3.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David Brainard sold 5,709 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total transaction of $143,010.45. Following the transaction, the chief technology officer directly owned 101,603 shares of the company’s stock, valued at approximately $2,545,155.15. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 59,507 shares of company stock valued at $1,494,612 in the last quarter. Corporate insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of EverQuote by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company’s stock valued at $59,980,000 after buying an additional 20,156 shares during the period. Acadian Asset Management LLC grew its position in EverQuote by 1.2% in the 2nd quarter. Acadian Asset Management LLC now owns 866,481 shares of the company’s stock valued at $20,939,000 after acquiring an additional 10,233 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in EverQuote by 27.3% during the second quarter. Qube Research & Technologies Ltd now owns 800,114 shares of the company’s stock worth $19,347,000 after purchasing an additional 171,787 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in EverQuote by 3.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 727,956 shares of the company’s stock worth $16,648,000 after purchasing an additional 26,980 shares during the period. Finally, Emerald Advisers LLC lifted its position in shares of EverQuote by 11.2% during the third quarter. Emerald Advisers LLC now owns 689,253 shares of the company’s stock worth $15,763,000 after purchasing an additional 69,668 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other 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.