EverQuote (NASDAQ:EVER) Rating Increased to Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of EverQuote (NASDAQ:EVER – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Needham & Company LLC upped their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. B. Riley Financial reiterated a “buy” rating and set a $34.00 price target (up from $30.00) on shares of EverQuote in a research report on Tuesday, August 4th. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. began coverage on shares of EverQuote in a research report on Monday, August 24th. They set an “overweight” rating and a $29.00 price objective for the company. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

View Our Latest Research Report on EVER

EverQuote Price Performance

NASDAQ:EVER opened at $23.98 on Friday. The firm has a 50 day simple moving average of $25.19 and a 200-day simple moving average of $20.47. The firm has a market cap of $864.00 million, a PE ratio of 7.79 and a beta of 0.67. EverQuote has a 1-year low of $13.88 and a 1-year high of $28.73.

EverQuote (NASDAQ:EVER – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The business had revenue of $195.09 million for the quarter, compared to analysts’ expectations of $191.06 million. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. As a group, sell-side analysts expect that EverQuote will post 1.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mira Wilczek sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.07, for a total transaction of $238,165.00. Following the transaction, the director owned 110,353 shares of the company’s stock, valued at $2,766,549.71. This represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jon Ayotte sold 1,436 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $26.47, for a total value of $38,010.92. Following the transaction, the chief accounting officer owned 74,272 shares in the company, valued at approximately $1,965,979.84. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 42,043 shares of company stock valued at $1,058,112. 23.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after purchasing an additional 624 shares during the last quarter. Cetera Investment Advisers boosted its position in EverQuote by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock valued at $392,000 after buying an additional 675 shares during the period. Comerica Bank boosted its position in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after buying an additional 772 shares during the period. Legal & General Group Plc grew its holdings in EverQuote by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock worth $556,000 after acquiring an additional 776 shares during the last quarter. Finally, Zacks Investment Management increased its position in shares of EverQuote by 1.2% in the fourth quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock valued at $1,790,000 after acquiring an additional 782 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.

About EverQuote

(Get Free Report)

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.

Featured Stories