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

Shares of EverQuote, Inc. (NASDAQ:EVER) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.1667.

EVER has been the subject of several recent research reports. Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of EverQuote from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price target on shares of EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of EverQuote in a research note on Tuesday, May 5th.

Insider Buying and Selling

In related news, CFO Joseph Sanborn sold 6,666 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.28, for a total transaction of $128,520.48. Following the completion of the transaction, the chief financial officer owned 327,820 shares of the company’s stock, valued at $6,320,369.60. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total value of $193,073.64. Following the transaction, the chief technology officer owned 180,493 shares of the company’s stock, valued at $3,505,174.06. The trade was a 5.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,775 shares of company stock worth $931,238 in the last 90 days. Insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank grew its holdings in shares of EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after buying an additional 772 shares during the last quarter. Signature Equity Partners LLC lifted its position in EverQuote by 65.5% in the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after acquiring an additional 842 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in EverQuote during the 3rd quarter valued at $52,000. Clearstead Advisors LLC increased its holdings in EverQuote by 70.5% in the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after buying an additional 826 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of EverQuote by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after purchasing an additional 2,381 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.

EverQuote Price Performance

Shares of EVER remained flat at $24.86 during trading hours on Friday. 465,103 shares of the stock were exchanged, compared to its average volume of 715,527. EverQuote has a 52-week low of $13.88 and a 52-week high of $28.73. The stock has a market cap of $895.71 million, a P/E ratio of 8.46 and a beta of 0.61. The firm has a 50 day moving average price of $19.67 and a two-hundred day moving average price of $19.62.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 53.39% and a net margin of 15.35%.The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. Equities analysts anticipate that EverQuote will post 1.99 earnings per share for the current fiscal year.

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.