EverQuote (NASDAQ:EVER) Rating Increased to Strong-Buy at Wall Street Zen

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

A number of other analysts have also weighed in on the stock. Zacks Research raised shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Raymond James Financial reiterated an “outperform” rating and set a $18.00 price objective on shares of EverQuote in a research note on Tuesday, February 17th. Needham & Company LLC reduced their price objective on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. B. Riley Financial dropped their target price on EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.83.

EverQuote Stock Performance

Shares of NASDAQ EVER opened at $15.80 on Friday. The firm has a market capitalization of $568.10 million, a price-to-earnings ratio of 5.98 and a beta of 0.50. The stock has a 50 day moving average price of $21.65 and a 200 day moving average price of $23.09. EverQuote has a 52-week low of $13.93 and a 52-week high of $30.03.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $0.35 by $1.19. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.The company had revenue of $195.32 million for the quarter, compared to the consensus estimate of $176.82 million. During the same period last year, the business posted $0.33 EPS. EverQuote’s quarterly revenue was up 32.3% on a year-over-year basis. Analysts forecast that EverQuote will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other EverQuote news, CAO Jon Ayotte sold 3,639 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $26.76, for a total transaction of $97,379.64. Following the sale, the chief accounting officer owned 49,233 shares of the company’s stock, valued at approximately $1,317,475.08. The trade was a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Shields sold 2,000 shares of the firm’s 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 completion of the transaction, the director directly owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 58,888 shares of company stock valued at $1,335,743. Company insiders own 25.52% of the company’s stock.

Institutional Trading of EverQuote

Several institutional investors and hedge funds have recently bought and sold shares of EVER. Comerica Bank increased its holdings in EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after buying an additional 772 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of EverQuote by 108.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after purchasing an additional 601 shares in the last quarter. Clearstead Advisors LLC raised its holdings in EverQuote by 70.5% in 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 period. NewEdge Advisors LLC purchased a new position in EverQuote during the third quarter worth approximately $52,000. Finally, Jones Financial Companies Lllp boosted its position in EverQuote by 595.8% during the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after purchasing an additional 2,246 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

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.