Brokerages Set EverQuote, Inc. (NASDAQ:EVER) Price Target at $23.83

EverQuote, Inc. (NASDAQ:EVER) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $23.8333.

EVER has been the subject of several research analyst reports. Zacks Research downgraded shares of EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Needham & Company LLC decreased their price target on EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Wall Street Zen raised EverQuote from a “buy” rating to a “strong-buy” rating in a report on Monday, March 16th. Raymond James Financial reissued an “outperform” rating and issued a $18.00 price objective on shares of EverQuote in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. cut their price objective on EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th.

EverQuote Stock Performance

EVER stock opened at $15.19 on Friday. The firm has a 50 day simple moving average of $17.64 and a 200-day simple moving average of $22.05. The company has a market capitalization of $547.30 million, a P/E ratio of 5.75 and a beta of 0.55. EverQuote has a twelve month low of $13.93 and a twelve month high of $28.73.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings results on Monday, February 23rd. The company reported $1.54 earnings per share (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 for the quarter, compared to analysts’ expectations of $176.82 million. During the same period in the prior year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. On average, research analysts predict that EverQuote will post 0.72 EPS for the current year.

Insider Transactions at EverQuote

In related news, CEO Jayme Mendal sold 14,360 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $14.98, for a total transaction of $215,112.80. Following the sale, the chief executive officer directly owned 541,777 shares of the company’s stock, valued at approximately $8,115,819.46. This represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO David Brainard sold 5,709 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total value of $143,010.45. Following the transaction, the chief technology officer owned 101,603 shares in the company, valued at $2,545,155.15. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 40,889 shares of company stock valued at $847,054. 25.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after buying an additional 61,805 shares during the last quarter. Amundi bought a new position in EverQuote in the first quarter worth about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after acquiring an additional 624 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in EverQuote by 615.1% in the first 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 acquiring an additional 292,172 shares during the period. Finally, Geode Capital Management LLC boosted its stake in EverQuote by 3.8% in the second quarter. Geode Capital Management LLC now owns 650,471 shares of the company’s stock valued at $15,730,000 after acquiring an additional 23,582 shares during the period. 91.54% of the stock is currently owned by 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.