Wall Street Zen Upgrades EverQuote (NASDAQ:EVER) to “Buy”

EverQuote (NASDAQ:EVER) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

EVER has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of EverQuote in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Craig Hallum reiterated a “buy” rating and issued a $20.00 target price on shares of EverQuote in a research report on Tuesday, February 24th. Canaccord Genuity Group decreased their target price on shares of EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, Zacks Research lowered shares of EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, EverQuote has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

EverQuote Trading Up 1.9%

NASDAQ EVER opened at $19.24 on Friday. The company’s fifty day simple moving average is $17.05 and its 200-day simple moving average is $20.53. EverQuote has a 52 week low of $13.88 and a 52 week high of $28.73. The stock has a market cap of $693.22 million, a P/E ratio of 6.54 and a beta of 0.56.

EverQuote (NASDAQ:EVER) last posted its 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. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The business had revenue of $190.85 million for the quarter, compared to analysts’ expectations of $180.10 million. During the same period in the previous year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts expect that EverQuote will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In other EverQuote news, CFO Joseph Sanborn sold 20,000 shares of EverQuote stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $20.70, for a total value of $414,000.00. Following the transaction, the chief financial officer owned 337,660 shares of the company’s stock, valued at approximately $6,989,562. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief technology officer directly owned 180,493 shares in the company, valued at approximately $3,505,174.06. The trade was a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 34,259 shares of company stock worth $682,955. Insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in EverQuote by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after acquiring 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 worth $392,000 after acquiring an additional 675 shares during the last quarter. 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 worth $25,000 after acquiring an additional 772 shares during the last quarter. Legal & General Group Plc boosted its position in EverQuote by 3.3% during 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 boosted its position in EverQuote by 1.2% during the 4th quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock worth $1,790,000 after acquiring an additional 782 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

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.