EverQuote (NASDAQ:EVER) Stock Rating Lowered by Wall Street Zen

EverQuote (NASDAQ:EVER) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also issued reports on EVER. Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. Craig Hallum restated a “buy” rating and set a $20.00 price target on shares of EverQuote in a research report on Tuesday, February 24th. B. Riley Financial decreased their price objective on shares of EverQuote from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

EverQuote Stock Up 0.7%

Shares of NASDAQ EVER opened at $19.98 on Friday. The company has a market capitalization of $719.88 million, a PE ratio of 6.80 and a beta of 0.65. The stock’s 50 day moving average price is $17.82 and its 200-day moving average price is $20.14. EverQuote has a twelve month low of $13.88 and a twelve month high of $28.73.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The company had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.EverQuote’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. As a group, research analysts expect that EverQuote will post 2.06 EPS for the current fiscal year.

Insider Activity at EverQuote

In related news, CFO Joseph Sanborn sold 20,000 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 337,660 shares of the company’s stock, valued at approximately $6,989,562. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Brainard sold 9,942 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 of the company’s stock, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,814 shares of company stock valued at $829,255. 23.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock worth $1,713,000 after purchasing an additional 61,805 shares in the last quarter. Amundi purchased a new stake in EverQuote during the 1st quarter worth about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 624 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in EverQuote by 615.1% during 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 in the last quarter. Finally, Creative Planning lifted its holdings in EverQuote by 32.4% during the 2nd quarter. Creative Planning now owns 10,526 shares of the company’s stock worth $255,000 after purchasing an additional 2,576 shares in the last quarter. 91.54% of the stock is owned by institutional investors.

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.