EverQuote, Inc. (NASDAQ:EVER) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of EverQuote, Inc. (NASDAQ:EVER) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.1667.

Several equities analysts recently commented on EVER shares. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of EverQuote in a research note on Tuesday, May 5th. Zacks Research cut EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of EverQuote in a report on Tuesday, February 24th. Finally, Canaccord Genuity Group lowered their price target on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th.

EverQuote Trading Up 0.5%

Shares of NASDAQ:EVER opened at $19.39 on Wednesday. The company has a 50 day moving average of $17.54 and a 200 day moving average of $20.20. The stock has a market cap of $698.62 million, a P/E ratio of 6.60 and a beta of 0.65. EverQuote has a 12 month low of $13.88 and a 12 month high of $28.73.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.43 by $0.08. The company had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $180.10 million. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. EverQuote’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities analysts forecast that EverQuote will post 2.06 earnings per share for the current fiscal year.

Insider Activity

In other EverQuote news, CTO David Brainard sold 9,942 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total value of $193,073.64. Following the sale, the chief technology officer owned 180,493 shares of the company’s stock, valued at $3,505,174.06. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph Sanborn sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $20.70, for a total value of $414,000.00. Following the completion of the sale, the chief financial officer directly owned 337,660 shares in the company, valued at approximately $6,989,562. The trade was a 5.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 35,148 shares of company stock worth $700,735. Insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank raised its holdings in shares of EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after buying an additional 826 shares in the last quarter. Signature Equity Partners LLC raised its holdings in shares of EverQuote by 65.5% during 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 in the last quarter. NewEdge Advisors LLC purchased a new position in shares of EverQuote during the 3rd quarter valued at about $52,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of EverQuote by 595.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after buying an additional 2,246 shares in the last quarter. Hedge funds and other institutional investors 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.