EverQuote (NASDAQ:EVER) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of EverQuote (NASDAQ:EVER) from a strong-buy rating to a buy rating in a report issued on Saturday.

Several other research analysts also recently commented on the company. Raymond James Financial reissued an “outperform” rating and set a $18.00 target price on shares of EverQuote in a research note on Tuesday, February 17th. B. Riley Financial lowered their target price on EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Canaccord Genuity Group lowered their target price on EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lowered their target price on EverQuote from $32.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

EverQuote Trading Up 1.1%

Shares of NASDAQ EVER opened at $15.35 on Friday. The company has a market cap of $553.06 million, a price-to-earnings ratio of 5.81 and a beta of 0.62. EverQuote has a 12 month low of $13.93 and a 12 month high of $28.73. The stock has a 50-day moving average price of $16.59 and a two-hundred day moving average price of $21.66.

EverQuote (NASDAQ:EVER) last issued its earnings results on Monday, February 23rd. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $0.35 by $1.19. The firm had revenue of $195.32 million during the quarter, compared to the consensus estimate of $176.82 million. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, sell-side analysts predict that EverQuote will post 0.72 earnings per share for the current year.

Insider Buying and Selling at EverQuote

In other EverQuote news, CTO David Brainard sold 5,709 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the sale, the chief technology officer directly owned 101,603 shares of the company’s stock, valued at $2,545,155.15. The trade was a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jon Ayotte sold 1,730 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $15.56, for a total transaction of $26,918.80. Following the sale, the chief accounting officer directly owned 86,202 shares in the company, valued at $1,341,303.12. The trade was a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 39,801 shares of company stock valued at $814,771. 25.52% of the stock is owned by insiders.

Institutional Investors Weigh In On EverQuote

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in EverQuote by 108.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after acquiring an additional 601 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in EverQuote by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after purchasing an additional 624 shares during the period. Cetera Investment Advisers increased its position 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 purchasing an additional 675 shares during the period. Comerica Bank increased its position 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 purchasing an additional 772 shares during the period. Finally, Legal & General Group Plc increased its position in EverQuote by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock valued at $556,000 after purchasing an additional 776 shares during the period. 91.54% of the stock is owned by institutional investors.

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.