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

EverQuote (NASDAQ:EVER) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other brokerages also recently commented on EVER. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. B. Riley Financial dropped their target price on EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Zacks Research cut EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Canaccord Genuity Group reduced their price target on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Raymond James Financial reissued an “outperform” rating and set a $18.00 price target on shares of EverQuote in a research note on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.83.

EverQuote Price Performance

Shares of EVER opened at $15.18 on Friday. The business has a fifty day moving average of $16.75 and a 200 day moving average of $21.73. The company has a market cap of $546.94 million, a PE ratio of 5.75 and a beta of 0.62. EverQuote has a 52-week low of $13.93 and a 52-week high of $28.73.

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

Insider Buying and Selling at EverQuote

In other EverQuote news, Director John L. Shields sold 2,000 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $25.73, for a total transaction of $51,460.00. Following the sale, the director owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jon Ayotte sold 1,730 shares of EverQuote stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $15.56, for a total value of $26,918.80. Following the completion of the transaction, the chief accounting officer owned 86,202 shares in the company, valued at $1,341,303.12. This represents a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 39,801 shares of company stock valued at $814,771. 25.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EverQuote

A number of hedge funds have recently made changes to their positions in EVER. Lazard Asset Management LLC grew its stake in EverQuote by 81.7% in the fourth quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock valued at $24,333,000 after purchasing an additional 405,237 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings 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 valued at $15,720,000 after buying an additional 361,082 shares in the last quarter. AQR Capital Management LLC boosted 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 buying an additional 319,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of EverQuote by 615.1% in 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 worth $8,896,000 after buying an additional 292,172 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of EverQuote by 1,100.6% in the 4th quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock worth $6,613,000 after buying an additional 224,535 shares during the last quarter. 91.54% of the stock is currently owned by hedge funds and other 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.