EverQuote (NASDAQ:EVER) Stock Price Down 4.8% – Should You Sell?
by Sarita Garza · The Markets DailyShares of EverQuote, Inc. (NASDAQ:EVER – Get Free Report) were down 4.8% during trading on Tuesday . The company traded as low as $26.56 and last traded at $26.22. Approximately 343,549 shares changed hands during trading, a decline of 61% from the average daily volume of 873,372 shares. The stock had previously closed at $27.54.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a research report on Tuesday, May 5th. Wall Street Zen cut EverQuote from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.17.
Read Our Latest Stock Report on EVER
EverQuote Stock Performance
The business’s fifty day moving average price is $21.36 and its two-hundred day moving average price is $19.47. The firm has a market capitalization of $925.68 million, a P/E ratio of 8.76 and a beta of 0.61.
EverQuote (NASDAQ:EVER – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The business had revenue of $190.85 million for the quarter, compared to the consensus estimate of $180.10 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Sell-side analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current year.
Insider Buying and Selling at EverQuote
In related news, CFO Joseph Sanborn sold 20,000 shares of EverQuote stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $20.70, for a total transaction of $414,000.00. Following the completion of the sale, the chief financial officer owned 337,660 shares of the company’s stock, valued at $6,989,562. The trade was a 5.59% 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, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total transaction of $193,073.64. Following the sale, the chief technology officer owned 180,493 shares of the company’s stock, valued at approximately $3,505,174.06. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 57,891 shares of company stock worth $1,243,447. 23.68% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in EverQuote by 81.7% in the fourth quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock valued at $24,333,000 after purchasing an additional 405,237 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of EverQuote by 110.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock valued at $15,720,000 after buying an additional 361,082 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of EverQuote by 95.1% during the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock valued at $15,853,000 after buying an additional 319,618 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $13,412,000 after buying an additional 293,160 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $8,896,000 after buying an additional 292,172 shares during the period. 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.