EverQuote (NASDAQ:EVER) Raised to “Strong-Buy” at Wall Street Zen

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

EVER has been the topic of a number of other research reports. Zacks Research downgraded EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. B. Riley Financial decreased their price objective on EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Needham & Company LLC lowered their price objective on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Raymond James Financial reiterated an “outperform” rating and set a $18.00 target price on shares of EverQuote in a report on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

EverQuote Stock Performance

EverQuote stock opened at $16.49 on Monday. The company has a 50 day moving average price of $19.58 and a 200-day moving average price of $22.59. EverQuote has a fifty-two week low of $13.93 and a fifty-two week high of $30.03. The company has a market capitalization of $594.13 million, a PE ratio of 6.25 and a beta of 0.55.

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

Insider Buying and Selling

In other EverQuote news, Director John L. Shields sold 2,000 shares of the 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 owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David Brainard sold 5,709 shares of EverQuote 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 completion of the transaction, the chief technology officer owned 101,603 shares in the company, valued at $2,545,155.15. This represents a 5.32% decrease in their ownership of the stock. 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 in the last three months. Corporate insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVER. Ameritas Investment Partners Inc. lifted its position in shares of EverQuote by 25.8% during the second quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock valued at $68,000 after buying an additional 573 shares during the last quarter. Versant Capital Management Inc grew its position in shares of EverQuote by 108.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after buying an additional 601 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of EverQuote by 4.3% during the 1st 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 in the last quarter. Cetera Investment Advisers raised its stake in shares of EverQuote by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock worth $392,000 after acquiring an additional 675 shares in the last quarter. Finally, Comerica Bank lifted its position in EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

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.