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

EverQuote (NASDAQ:EVER) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also weighed in on EVER. Needham & Company LLC reduced 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. Zacks Research cut shares of EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price target on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Craig Hallum reiterated a “buy” rating and set a $20.00 price objective on shares of EverQuote in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.83.

EverQuote Stock Performance

Shares of EverQuote stock opened at $15.18 on Friday. EverQuote has a fifty-two week low of $13.93 and a fifty-two week high of $28.73. The company has a market capitalization of $546.94 million, a P/E ratio of 5.75 and a beta of 0.62. The company has a fifty day moving average of $16.75 and a 200 day moving average of $21.76.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data 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 quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. Analysts forecast that EverQuote will post 0.72 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $14.98, for a total transaction of $215,112.80. Following the completion of the sale, the chief executive officer owned 541,777 shares of the company’s stock, valued at $8,115,819.46. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jon Ayotte sold 1,730 shares of EverQuote stock in a transaction that occurred 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 sale, the chief accounting officer owned 86,202 shares of the company’s stock, valued at approximately $1,341,303.12. The trade was a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,539 shares of company stock valued at $856,427 in the last 90 days. Corporate insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors have recently made changes to their positions in EVER. Comerica Bank raised 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 worth $25,000 after buying an additional 772 shares during the period. Versant Capital Management Inc grew its stake in EverQuote by 108.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after acquiring an additional 601 shares during the period. NewEdge Advisors LLC purchased a new stake in EverQuote in the 3rd quarter worth $52,000. Clearstead Advisors LLC increased its holdings in EverQuote by 70.5% in the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in EverQuote by 595.8% during the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after acquiring an additional 2,246 shares during the period. 91.54% of the stock is owned by hedge funds and other 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.