EverQuote (NASDAQ:EVER) Shares Gap Up Following Strong Earnings
by Teresa Graham · The Cerbat GemEverQuote, Inc. (NASDAQ:EVER – Get Free Report) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.61, but opened at $19.09. EverQuote shares last traded at $20.9730, with a volume of 1,313,034 shares trading hands.
The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. EverQuote had a net margin of 14.34% and a return on equity of 57.65%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share.
EverQuote News Summary
Here are the key news stories impacting EverQuote this week:
- Positive Sentiment: Q1 beat — EverQuote reported $0.51 EPS vs. $0.43 consensus and $190.9M revenue vs. ~$180.1M expected; revenue was up ~14.6% YoY, showing stronger-than-expected top- and bottom-line performance. MarketBeat Q1 Earnings
- Positive Sentiment: Raised near-term guidance — EverQuote set Q2 revenue guidance of $185M–$195M, above consensus, and reiterated an aggressive long-term goal of $1B in revenue within 2–3 years, signaling strong growth trajectory. Seeking Alpha: Q2 Guidance & $1B Target
- Positive Sentiment: Analyst backing — Needham reaffirmed a “buy” and set a $25 price target (large upside vs. the reference price cited), adding institutional validation to the beat-and-guide story. Benzinga Note on Needham Rating
- Neutral Sentiment: Additional coverage and analysis — Multiple outlets (Zacks, GlobeNewswire, Chron, Seeking Alpha) published earnings recaps, metrics analysis, and the full earnings press release/slide deck and call transcript for investors to dig into unit economics and channel performance. Zacks: Q1 Recap
- Neutral Sentiment: Comparative research — Third-party comparative pieces (e.g., EverQuote vs. Hippo) are available; useful for thematic context but not immediate stock drivers. American Banking News Analysis
- Negative Sentiment: Guidance nuance — management provided revenue guidance but did not quantify Q2 EPS in the update (EPS guidance appeared blank in the release), which can leave short-term earnings visibility limited and introduce volatility.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Zacks Research lowered shares of EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Raymond James Financial restated an “outperform” rating and issued a $18.00 price target on shares of EverQuote in a research report on Tuesday, February 17th. 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 report on Tuesday, February 24th. Wall Street Zen cut EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Craig Hallum restated a “buy” rating and set a $20.00 target price on shares of EverQuote in a report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, EverQuote presently has an average rating of “Moderate Buy” and an average price target of $23.83.
Read Our Latest Analysis on EVER
Insider Buying and Selling at EverQuote
In other news, CEO Jayme Mendal sold 14,360 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $14.98, for a total transaction of $215,112.80. Following the sale, the chief executive officer owned 541,777 shares in the company, valued at approximately $8,115,819.46. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jon Ayotte sold 1,730 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $15.56, for a total value of $26,918.80. Following the sale, the chief accounting officer owned 86,202 shares in the company, valued at $1,341,303.12. The trade was a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,095 shares of company stock worth $272,489 in the last 90 days. Company insiders own 25.52% of the company’s stock.
Hedge Funds Weigh In On EverQuote
Several hedge funds have recently added to or reduced their stakes in EVER. Royal Bank of Canada boosted its holdings in EverQuote by 1,705.9% in the first quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after acquiring an additional 61,805 shares during the last quarter. Amundi bought a new position in EverQuote in the first quarter valued at about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after acquiring an additional 624 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in EverQuote by 615.1% in the first 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 acquiring an additional 292,172 shares during the last quarter. Finally, Creative Planning boosted its holdings in EverQuote by 32.4% in the second quarter. Creative Planning now owns 10,526 shares of the company’s stock valued at $255,000 after acquiring an additional 2,576 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.
EverQuote Stock Up 46.0%
The firm has a fifty day moving average of $15.85 and a 200-day moving average of $20.79. The firm has a market cap of $768.48 million, a P/E ratio of 8.06 and a beta of 0.56.
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.