EverQuote (NASDAQ:EVER) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of EverQuote (NASDAQ:EVER) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the stock. Wall Street Zen raised shares of EverQuote from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Craig Hallum restated a “buy” rating and set a $20.00 price target on shares of EverQuote in a research report on Tuesday. B. Riley Financial dropped their price objective on EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Needham & Company LLC decreased their target price on EverQuote from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Canaccord Genuity Group lowered their target price on EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.83.

EverQuote Trading Down 4.2%

NASDAQ EVER opened at $15.80 on Thursday. The stock has a fifty day simple moving average of $21.65 and a 200-day simple moving average of $23.09. The stock has a market cap of $568.17 million, a PE ratio of 5.98 and a beta of 0.50. EverQuote has a twelve month low of $13.93 and a twelve month high of $30.03.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, February 23rd. The company reported $1.54 EPS for the quarter, beating 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 company had revenue of $195.32 million for the quarter, compared to analysts’ expectations of $176.82 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. EverQuote’s revenue for the quarter was up 32.3% compared to the same quarter last year. Research analysts predict that EverQuote will post 0.72 EPS for the current year.

Insider Activity

In other news, CTO David Brainard sold 5,709 shares of the firm’s 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. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Shields sold 2,000 shares of EverQuote 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 sale, the director directly owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This trade represents a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,888 shares of company stock worth $1,335,743 in the last ninety days. 25.52% of the stock is owned by insiders.

Institutional Trading of EverQuote

A number of hedge funds and other institutional investors have recently bought and sold shares of EVER. Royal Bank of Canada boosted 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 worth $1,713,000 after acquiring an additional 61,805 shares in the last quarter. Amundi purchased a new stake in EverQuote during the first quarter worth approximately $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $393,000 after purchasing an additional 624 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 purchasing an additional 292,172 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in EverQuote by 70.9% in the second quarter. AlphaQuest LLC now owns 5,485 shares of the company’s stock valued at $133,000 after purchasing an additional 2,276 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

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.