EverQuote (NASDAQ:EVER) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of EverQuote (NASDAQ:EVER) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

A number of other analysts have also issued reports on EVER. Canaccord Genuity Group reduced their target price on EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Craig Hallum reissued a “buy” rating and issued a $20.00 price objective on shares of EverQuote in a research note on Tuesday, February 24th. JPMorgan Chase & Co. lowered their target price on EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. B. Riley Financial reduced their price target on shares of EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.83.

EverQuote Price Performance

EverQuote stock opened at $16.85 on Friday. The firm has a 50 day simple moving average of $20.63 and a 200-day simple moving average of $22.85. The stock has a market capitalization of $607.11 million, a PE ratio of 6.38 and a beta of 0.54. EverQuote has a 12-month low of $13.93 and a 12-month high of $30.03.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $1.19. The company 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 firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. On average, analysts forecast that EverQuote will post 0.72 earnings per share for the current fiscal year.

Insider Activity at EverQuote

In other news, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $25.73, for a total transaction of $51,460.00. Following the transaction, the director owned 25,219 shares in the company, valued at approximately $648,884.87. The trade was a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jayme Mendal sold 14,360 shares of the stock in a transaction dated Friday, February 20th. The shares were 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 owned 541,777 shares of the company’s stock, valued at approximately $8,115,819.46. The trade was a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 55,249 shares of company stock worth $1,238,364. 25.52% of the stock is owned by insiders.

Institutional Trading of EverQuote

Hedge funds have recently modified their holdings of the company. Emerald Advisers LLC lifted its position in EverQuote by 11.2% in the third quarter. Emerald Advisers LLC now owns 689,253 shares of the company’s stock worth $15,763,000 after purchasing an additional 69,668 shares during the period. D.A. Davidson & CO. acquired a new position in shares of EverQuote in the 3rd quarter valued at $1,100,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of EverQuote by 37.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 475,691 shares of the company’s stock worth $10,546,000 after acquiring an additional 128,426 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of EverQuote by 75.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 114,451 shares of the company’s stock valued at $2,617,000 after acquiring an additional 49,205 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in EverQuote by 1.2% in the second quarter. Acadian Asset Management LLC now owns 866,481 shares of the company’s stock valued at $20,939,000 after acquiring an additional 10,233 shares during the period. 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.