EverQuote (NASDAQ:EVER) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of EverQuote (NASDAQ:EVER) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

EVER has been the topic of a number of other reports. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of EverQuote in a research report on Tuesday, February 24th. Needham & Company LLC cut their target price on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Zacks Research lowered shares of EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Canaccord Genuity Group lowered their price target on shares of EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.83.

EverQuote Stock Performance

NASDAQ:EVER opened at $15.18 on Friday. The business’s fifty day moving average price is $16.75 and its 200 day moving average price is $21.75. The firm has a market capitalization of $546.94 million, a price-to-earnings ratio of 5.75 and a beta of 0.62. EverQuote has a 1-year low of $13.93 and a 1-year high of $28.73.

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

Insider Transactions at EverQuote

In related news, CTO David Brainard sold 5,709 shares of the stock in a transaction that occurred 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 approximately $2,545,155.15. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $25.73, for a total transaction of $51,460.00. Following the transaction, the director directly owned 25,219 shares in the company, valued at approximately $648,884.87. The trade was a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,539 shares of company stock worth $856,427. 25.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank boosted its holdings in EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after purchasing an additional 772 shares in the last quarter. Versant Capital Management Inc increased its position in EverQuote by 108.9% during the third 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. NewEdge Advisors LLC bought a new position in EverQuote during the third quarter valued at about $52,000. Clearstead Advisors LLC raised its holdings in EverQuote by 70.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after buying an additional 826 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of EverQuote by 595.8% in the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after buying an additional 2,246 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

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.