EverQuote (NASDAQ:EVER) Stock Rating Lowered by Wall Street Zen

EverQuote (NASDAQ:EVER) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also recently commented on EVER. B. Riley Financial reiterated 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. Needham & Company LLC raised their price objective on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.67.

EverQuote Stock Performance

EVER stock opened at $25.71 on Friday. EverQuote has a 12-month low of $13.88 and a 12-month high of $28.73. The stock has a market cap of $926.33 million, a price-to-earnings ratio of 8.35 and a beta of 0.62. The business’s 50-day moving average is $23.19 and its 200 day moving average is $19.43.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts forecast that EverQuote will post 1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the sale, the chief accounting officer owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Brainard sold 4,960 shares of EverQuote stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $25.51, for a total value of $126,529.60. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,586 shares of company stock valued at $629,114 in the last ninety days. 23.68% of the stock is currently owned by corporate insiders.

Institutional Trading of EverQuote

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings 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 acquiring an additional 772 shares during the period. Clearstead Advisors LLC grew its holdings in shares of EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after purchasing an additional 826 shares during the period. Signature Equity Partners LLC grew its holdings in shares of EverQuote by 65.5% in the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after purchasing an additional 842 shares during the period. NewEdge Advisors LLC acquired a new stake in EverQuote during the third quarter worth about $52,000. Finally, Kestra Advisory Services LLC purchased a new position in EverQuote during the fourth quarter worth about $84,000. 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.