EverQuote (NASDAQ:EVER) Cut to “Hold” at Wall Street Zen

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

A number of other research firms have also issued reports on EVER. B. Riley Financial reiterated a “buy” rating and set a $34.00 price objective (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Needham & Company LLC raised their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of 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 issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

EverQuote Stock Performance

EVER stock opened at $25.55 on Friday. The firm has a market cap of $920.57 million, a P/E ratio of 8.30 and a beta of 0.62. EverQuote has a 1 year low of $13.88 and a 1 year high of $28.73. The stock has a 50-day simple moving average of $23.30 and a 200-day simple moving average of $19.45.

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

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 4,960 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total transaction of $126,529.60. Following the completion of the transaction, the chief technology officer directly owned 165,336 shares of the company’s stock, valued at $4,217,721.36. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph Sanborn sold 6,667 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total transaction of $164,208.21. Following the completion of the sale, the chief financial officer directly owned 311,908 shares of the company’s stock, valued at $7,682,294.04. The trade was a 2.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,586 shares of company stock valued at $629,114 in the last ninety days. Corporate insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in EverQuote by 81.7% during the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after buying an additional 405,237 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of EverQuote by 110.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock worth $15,720,000 after acquiring an additional 361,082 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of EverQuote by 95.1% in the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock valued at $15,853,000 after acquiring an additional 319,618 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of EverQuote by 47.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after acquiring an additional 293,160 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of EverQuote by 615.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock valued at $8,896,000 after acquiring an additional 292,172 shares in the last quarter. 91.54% of the stock is owned by institutional investors.

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.