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

EverQuote, Inc. (NASDAQ:EVER) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.8333.

A number of equities analysts have recently commented on EVER shares. Wall Street Zen upgraded EverQuote from a “buy” rating to a “strong-buy” rating in a report on Saturday. JPMorgan Chase & Co. cut their price objective on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Raymond James Financial restated an “outperform” rating and issued a $18.00 target price on shares of EverQuote in a report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. Finally, B. Riley Financial decreased their price objective on shares of EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th.

EverQuote Stock Down 1.5%

EverQuote stock opened at $15.57 on Monday. EverQuote has a 52-week low of $13.93 and a 52-week high of $30.03. The company has a market cap of $559.90 million, a price-to-earnings ratio of 5.90 and a beta of 0.55. The firm’s fifty day moving average is $21.65 and its 200 day moving average is $23.08.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, February 23rd. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $1.19. The firm had revenue of $195.32 million for the quarter, compared to the consensus estimate of $176.82 million. EverQuote had a net margin of 14.34% and a return on equity of 57.65%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. On average, equities research analysts anticipate that EverQuote will post 0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction on Friday, February 20th. The stock was sold at an average price of $14.98, for a total transaction of $215,112.80. Following the completion of the sale, the chief executive officer directly owned 541,777 shares in the company, valued at approximately $8,115,819.46. This trade represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $25.73, for a total transaction of $51,460.00. Following the sale, the director directly owned 25,219 shares of the company’s stock, valued at $648,884.87. This represents a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,249 shares of company stock worth $1,238,364 in the last 90 days. 25.52% of the stock is owned by insiders.

Hedge Funds Weigh In On EverQuote

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in shares of EverQuote by 31.6% in the fourth quarter. Invesco Ltd. now owns 49,143 shares of the company’s stock valued at $1,327,000 after purchasing an additional 11,808 shares during the period. Mercer Global Advisors Inc. ADV raised its position in EverQuote by 40.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,343 shares of the company’s stock valued at $360,000 after purchasing an additional 3,813 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of EverQuote by 484.3% in the 4th quarter. NewEdge Advisors LLC now owns 13,223 shares of the company’s stock worth $357,000 after buying an additional 10,960 shares during the period. Zacks Investment Management grew its position in shares of EverQuote by 1.2% during the 4th quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock worth $1,790,000 after buying an additional 782 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of EverQuote during the fourth quarter valued at $265,000. 91.54% of the stock is currently owned by institutional investors.

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.