EverQuote, Inc. (NASDAQ:EVER – Get Free Report) traded down 7.5% on Thursday . The company traded as low as $17.62 and last traded at $17.4490. 341,361 shares changed hands during trading, a decline of 64% from the average session volume of 959,383 shares. The stock had previously closed at $18.86.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of EverQuote in a report on Tuesday, May 5th. Canaccord Genuity Group decreased their price objective on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Craig Hallum reissued a “buy” rating and set a $20.00 price objective on shares of EverQuote in a report on Tuesday, February 24th. Raymond James Financial reissued an “outperform” rating and set a $18.00 price objective on shares of EverQuote in a report on Tuesday, February 17th. Finally, Wall Street Zen cut EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Six equities research 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $24.17.
Check Out Our Latest Analysis on EverQuote
EverQuote Trading Up 0.6%
EverQuote (NASDAQ:EVER – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $190.85 million for the quarter, compared to analysts’ expectations of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, equities analysts anticipate that EverQuote, Inc. will post 2.03 earnings per share for the current year.
Insider Buying and Selling
In other EverQuote news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $14.98, for a total value of $215,112.80. Following the transaction, the chief executive officer directly owned 541,777 shares of the company’s stock, valued at $8,115,819.46. The trade was a 2.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total value of $193,073.64. Following the completion of the sale, the chief technology officer owned 180,493 shares in the company, valued at approximately $3,505,174.06. This represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,400 shares of company stock valued at $886,823 over the last quarter. Company insiders own 25.52% of the company’s stock.
Institutional Investors Weigh In On EverQuote
A number of large investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its position in shares of EverQuote by 81.7% in the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after purchasing an additional 405,237 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of EverQuote by 110.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock worth $15,720,000 after purchasing an additional 361,082 shares during the period. AQR Capital Management LLC lifted its position in shares of EverQuote by 95.1% in the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock worth $15,853,000 after purchasing an additional 319,618 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of EverQuote by 47.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock worth $13,412,000 after purchasing an additional 293,160 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of EverQuote by 615.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock worth $8,896,000 after purchasing an additional 292,172 shares during the period. 91.54% of the stock is currently owned by 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.
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