Wall Street Zen Upgrades EverQuote (NASDAQ:EVER) to Buy

EverQuote (NASDAQ:EVER) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research analysts have also issued reports on EVER. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. upped their price target on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, EverQuote currently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

EverQuote Price Performance

EVER stock opened at $25.04 on Friday. EverQuote has a 1 year low of $13.88 and a 1 year high of $28.73. The company has a market cap of $902.19 million, a P/E ratio of 8.52 and a beta of 0.61. The firm has a 50-day moving average of $21.93 and a 200 day moving average of $19.45.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. The business had revenue of $190.85 million during the quarter, compared to analyst estimates of $180.10 million. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. EverQuote’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. On average, equities research analysts expect that EverQuote will post 1.72 earnings per share for the current fiscal year.

Insider Activity at EverQuote

In related news, CFO Joseph Sanborn sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $20.70, for a total transaction of $414,000.00. Following the sale, the chief financial officer owned 337,660 shares of the company’s stock, valued at $6,989,562. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jon Ayotte sold 4,611 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total transaction of $111,355.65. Following the completion of the sale, the chief accounting officer owned 74,580 shares in the company, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,891 shares of company stock valued at $1,243,447 in the last three months. Company insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 buying an additional 624 shares in the last quarter. Cetera Investment Advisers boosted its holdings in EverQuote by 4.3% in the second quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock worth $392,000 after acquiring an additional 675 shares in the last quarter. Comerica Bank boosted its holdings in EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after acquiring an additional 772 shares in the last quarter. Legal & General Group Plc grew its stake in shares of EverQuote by 3.3% in the third quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock worth $556,000 after acquiring an additional 776 shares during the last quarter. Finally, Zacks Investment Management grew its stake in shares of EverQuote by 1.2% in the fourth quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock worth $1,790,000 after acquiring an additional 782 shares during 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.