EverQuote (NASDAQ:EVER) Trading Down 6.3% – What’s Next?

Shares of EverQuote, Inc. (NASDAQ:EVER) traded down 6.3% during trading on Wednesday . The company traded as low as $23.08 and last traded at $23.3640. 232,865 shares were traded during trading, a decline of 72% from the average session volume of 820,654 shares. The stock had previously closed at $24.94.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Zacks Research lowered shares of EverQuote from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on shares of EverQuote in a report on Monday, August 24th. They set an “overweight” rating and a $29.00 price target for the company. Wall Street Zen lowered shares of EverQuote from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.17.

EverQuote Price Performance

The business has a 50 day simple moving average of $25.21 and a 200 day simple moving average of $20.44. The company has a market capitalization of $846.34 million, a price-to-earnings ratio of 7.63 and a beta of 0.67.

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

Insider Activity at EverQuote

In other news, CTO David Brainard sold 1,097 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.47, for a total transaction of $29,037.59. Following the sale, the chief technology officer owned 163,030 shares of the company’s stock, valued at approximately $4,315,404.10. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Shields sold 3,126 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $26.39, for a total transaction of $82,495.14. Following the completion of the transaction, the director directly owned 31,198 shares of the company’s stock, valued at approximately $823,315.22. The trade was a 9.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 42,043 shares of company stock valued at $1,058,112. 23.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverQuote

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank increased its position in shares of EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after acquiring an additional 772 shares during the period. Clearstead Advisors LLC boosted its holdings in EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after purchasing an additional 826 shares during the period. Signature Equity Partners LLC grew its stake in EverQuote by 65.5% during the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after purchasing an additional 842 shares in the last quarter. NewEdge Advisors LLC acquired a new position in EverQuote during the 3rd quarter worth $52,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in EverQuote during the 2nd quarter worth about $55,000. Hedge funds and other 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.