EverQuote (NASDAQ:EVER) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of EverQuote (NASDAQ:EVER) from a buy rating to a hold rating in a report published on Saturday.

Other equities research analysts also recently issued reports about the company. B. Riley Financial reissued a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. JPMorgan Chase & Co. upped 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. Needham & Company LLC increased their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

EverQuote Price Performance

NASDAQ EVER opened at $25.71 on Friday. EverQuote has a 1 year low of $13.88 and a 1 year high of $28.73. The company has a market capitalization of $926.33 million, a PE ratio of 8.35 and a beta of 0.62. The company has a fifty day moving average of $23.19 and a two-hundred day moving average of $19.47.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $195.09 million for the quarter, compared to analysts’ expectations of $191.06 million. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, research analysts expect that EverQuote will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In other EverQuote news, CFO Joseph Sanborn sold 6,667 shares of EverQuote stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total value of $164,208.21. Following the transaction, the chief financial officer directly owned 311,908 shares in the company, valued at approximately $7,682,294.04. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jon Ayotte sold 4,611 shares of EverQuote stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the transaction, the chief accounting officer owned 74,580 shares in the company, valued at $1,801,107. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 27,586 shares of company stock valued at $629,114. 23.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverQuote

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock worth $1,713,000 after buying an additional 61,805 shares during the last quarter. Amundi purchased a new stake in shares of EverQuote in the first quarter valued at about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after acquiring an additional 624 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of EverQuote by 615.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock worth $8,896,000 after acquiring an additional 292,172 shares during the period. Finally, Creative Planning increased its stake in shares of EverQuote by 32.4% during the second quarter. Creative Planning now owns 10,526 shares of the company’s stock worth $255,000 after acquiring an additional 2,576 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.

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.