EverQuote, Inc. (NASDAQ:EVER) Receives $23.83 Average Target Price from Analysts

Shares of EverQuote, Inc. (NASDAQ:EVER) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $23.8333.

Several research firms recently weighed in on EVER. Zacks Research downgraded EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. Needham & Company LLC decreased their price objective on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Raymond James Financial reissued an “outperform” rating and issued a $18.00 price objective on shares of EverQuote in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of EverQuote from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th.

EverQuote Stock Up 2.9%

NASDAQ:EVER opened at $16.85 on Monday. The firm’s fifty day simple moving average is $21.02 and its 200-day simple moving average is $22.93. The stock has a market cap of $605.93 million, a PE ratio of 6.38 and a beta of 0.54. EverQuote has a fifty-two week low of $13.93 and a fifty-two week high of $30.03.

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

Insider Buying and Selling

In other news, CEO Jayme Mendal sold 14,360 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $14.98, for a total value of $215,112.80. Following the completion of the transaction, the chief executive officer directly owned 541,777 shares of the company’s stock, valued at $8,115,819.46. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO David Brainard sold 5,709 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total value of $143,010.45. Following the sale, the chief technology officer directly owned 101,603 shares in the company, valued at approximately $2,545,155.15. The trade was a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 55,249 shares of company stock valued at $1,238,364. 25.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVER. Royal Bank of Canada increased its holdings in EverQuote by 1,705.9% in the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after purchasing an additional 61,805 shares in the last quarter. Amundi purchased a new stake in shares of EverQuote in the first quarter worth about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after buying an additional 624 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 buying an additional 292,172 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of EverQuote by 70.9% during the 2nd quarter. AlphaQuest LLC now owns 5,485 shares of the company’s stock valued at $133,000 after buying an additional 2,276 shares during the period. 91.54% of the stock is currently owned by hedge funds and other 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.