EverQuote (NASDAQ:EVER) Downgraded to “Buy” Rating by Wall Street Zen

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

A number of other research analysts have also issued reports on the company. Needham & Company LLC reduced their price target on EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. Raymond James Financial reiterated an “outperform” rating and issued a $18.00 target price on shares of EverQuote in a research report on Tuesday, February 17th. Finally, B. Riley Financial lowered their target price on shares of EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

EverQuote Trading Down 1.3%

Shares of NASDAQ:EVER opened at $16.85 on Friday. The firm’s 50 day moving average is $20.63 and its two-hundred day moving average is $22.85. The firm has a market capitalization of $607.11 million, a P/E ratio of 6.38 and a beta of 0.54. EverQuote has a 52 week low of $13.93 and a 52 week high of $30.03.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, February 23rd. The company reported $1.54 earnings per share (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 business had revenue of $195.32 million during the quarter, compared to the consensus estimate of $176.82 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 32.3% on a year-over-year basis. Analysts predict that EverQuote will post 0.72 EPS for the current year.

Insider Activity

In other EverQuote news, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $25.73, for a total transaction of $51,460.00. Following the sale, the director directly owned 25,219 shares of the company’s stock, valued at $648,884.87. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jon Ayotte sold 1,730 shares of the 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 sale, the chief accounting officer owned 86,202 shares of the company’s stock, valued at $1,341,303.12. The trade was a 1.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,249 shares of company stock worth $1,238,364 over the last three months. 25.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

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