EverQuote (NASDAQ:EVER) Hits New 1-Year Low – What’s Next?

EverQuote, Inc. (NASDAQ:EVER) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.91 and last traded at $14.1030, with a volume of 453014 shares traded. The stock had previously closed at $14.42.

Wall Street Analyst Weigh In

EVER has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their target price on EverQuote from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Canaccord Genuity Group reduced their target price on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. JPMorgan Chase & Co. cut their price objective on EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. B. Riley Financial cut their price objective on EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $18.00 price objective on shares of EverQuote in a report on Tuesday, February 17th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, EverQuote has a consensus rating of “Moderate Buy” and an average price target of $23.83.

EverQuote Trading Up 0.5%

The stock has a market cap of $522.07 million, a P/E ratio of 5.49 and a beta of 0.56. The company has a 50 day simple moving average of $15.85 and a 200 day simple moving average of $20.79.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 23rd. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $0.35 by $1.19. The firm had revenue of $195.32 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, sell-side analysts expect that EverQuote, Inc. will post 1.91 earnings per share for the current year.

Insider Activity at EverQuote

In other EverQuote news, CEO Jayme Mendal sold 14,360 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $14.98, for a total value of $215,112.80. Following the sale, the chief executive officer owned 541,777 shares in the company, valued at approximately $8,115,819.46. The trade was a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $15.56, for a total value of $26,918.80. Following the completion of the sale, the chief accounting officer owned 86,202 shares in the company, valued at $1,341,303.12. The trade was a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,095 shares of company stock worth $272,489 in the last 90 days. Company insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On EverQuote

Institutional investors have recently bought and sold shares of the company. Comerica Bank increased its position 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 purchasing an additional 772 shares during the last quarter. Versant Capital Management Inc increased its position in shares of 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 purchasing an additional 601 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of EverQuote during the 3rd quarter worth approximately $52,000. Clearstead Advisors LLC increased its position in shares of EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after purchasing an additional 826 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position 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 worth $62,000 after purchasing an additional 2,246 shares during the last quarter. 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.