EverQuote (NASDAQ:EVER) Stock Price Down 3.5% – Here’s Why

EverQuote, Inc. (NASDAQ:EVER) shares were down 3.5% on Tuesday . The company traded as low as $26.21 and last traded at $25.6950. 74,330 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 842,200 shares. The stock had previously closed at $26.62.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of EverQuote from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Needham & Company LLC upped their target price 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. B. Riley Financial reissued a “buy” rating and issued a $34.00 price target (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. JPMorgan Chase & Co. assumed coverage on EverQuote in a report on Monday. They issued an “overweight” rating and a $29.00 price target on the stock. Finally, Wall Street Zen cut EverQuote from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, EverQuote presently has a consensus rating of “Moderate Buy” and an average target price of $28.17.

EverQuote Stock Down 1.9%

The firm has a market cap of $941.10 million, a price-to-earnings ratio of 8.47 and a beta of 0.62. The company’s fifty day moving average is $24.39 and its 200 day moving average is $19.59.

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

Insider Buying and Selling

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George R. Neble sold 2,456 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.64, for a total value of $60,515.84. Following the transaction, the director directly owned 58,140 shares in the company, valued at $1,432,569.60. This trade represents a 4.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 35,020 shares of company stock worth $828,266. Insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several hedge funds and other institutional investors have recently made changes to their positions in EVER. Comerica Bank increased its holdings in EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 772 shares during the last quarter. Signature Equity Partners LLC grew its position in shares of EverQuote by 65.5% in the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after acquiring an additional 842 shares during the period. NewEdge Advisors LLC bought a new position in shares of EverQuote in the 3rd quarter valued at about $52,000. Clearstead Advisors LLC increased its stake in shares of EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after purchasing an additional 826 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of EverQuote by 271.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after purchasing an additional 2,381 shares during the period. 91.54% of the stock is 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.