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

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

EVER has been the topic of several other research reports. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

EverQuote Stock Performance

NASDAQ EVER opened at $25.04 on Friday. EverQuote has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The stock has a 50 day simple moving average of $21.93 and a two-hundred day simple moving average of $19.49. The stock has a market cap of $902.19 million, a P/E ratio of 8.52 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm 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 firm earned $0.21 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts predict that EverQuote will post 1.72 earnings per share for the current year.

Insider Activity

In other news, 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 value of $193,073.64. Following the completion of the transaction, the chief technology officer owned 180,493 shares in the company, valued at $3,505,174.06. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jon Ayotte sold 4,611 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the sale, the chief accounting officer directly owned 74,580 shares in the company, valued at approximately $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,891 shares of company stock worth $1,243,447 in the last quarter. 23.68% of the stock is owned by company insiders.

Institutional Trading of EverQuote

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank increased its stake in shares of EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after acquiring an additional 772 shares in the last quarter. Signature Equity Partners LLC boosted its stake in EverQuote by 65.5% during the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after acquiring an additional 842 shares in the last quarter. NewEdge Advisors LLC bought a new stake in EverQuote during the third quarter worth about $52,000. Clearstead Advisors LLC boosted its stake in EverQuote by 70.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in EverQuote by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock worth $79,000 after purchasing an additional 2,381 shares during the period. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.