EverQuote, Inc. (NASDAQ:EVER) Receives $23.83 Consensus PT from Analysts

Shares of EverQuote, Inc. (NASDAQ:EVER) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.8333.

Several research firms recently commented on EVER. JPMorgan Chase & Co. cut their target price on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Wall Street Zen cut shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Canaccord Genuity Group cut their target price on shares of EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $18.00 target price on shares of EverQuote in a research note on Tuesday, February 17th.

Insider Buying and Selling at EverQuote

In related news, CAO Jon Ayotte sold 1,730 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $15.56, for a total transaction of $26,918.80. Following the completion of the transaction, the chief accounting officer directly owned 86,202 shares in the company, valued at $1,341,303.12. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayme Mendal sold 14,360 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $14.98, for a total transaction of $215,112.80. Following the transaction, the chief executive officer owned 541,777 shares of the company’s stock, valued at approximately $8,115,819.46. The trade was a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,095 shares of company stock valued at $272,489. Corporate insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On EverQuote

A number of hedge funds have recently made changes to their positions in the business. Inspire Investing LLC raised its stake in shares of EverQuote by 116.3% in the 1st quarter. Inspire Investing LLC now owns 99,131 shares of the company’s stock valued at $1,529,000 after buying an additional 53,303 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of EverQuote in the 1st quarter valued at $2,410,000. Invesco Ltd. raised its stake in shares of EverQuote by 31.6% in the 4th quarter. Invesco Ltd. now owns 49,143 shares of the company’s stock valued at $1,327,000 after buying an additional 11,808 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of EverQuote by 40.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,343 shares of the company’s stock valued at $360,000 after buying an additional 3,813 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of EverQuote by 484.3% in the 4th quarter. NewEdge Advisors LLC now owns 13,223 shares of the company’s stock valued at $357,000 after buying an additional 10,960 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

EverQuote Trading Down 7.2%

Shares of EverQuote stock opened at $15.21 on Tuesday. The firm has a fifty day simple moving average of $15.73 and a 200-day simple moving average of $21.01. EverQuote has a 1-year low of $13.93 and a 1-year high of $28.73. The stock has a market capitalization of $548.02 million, a price-to-earnings ratio of 5.76 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, February 23rd. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $1.19. EverQuote had a net margin of 14.34% and a return on equity of 57.65%. The business had revenue of $195.32 million during the quarter, compared to analysts’ expectations of $176.82 million. During the same period in the previous year, the company earned $0.33 earnings per share. EverQuote’s revenue for the quarter was up 32.3% on a year-over-year basis. As a group, research analysts predict that EverQuote will post 1.91 earnings per share for the current year.

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.