EverQuote, Inc. (NASDAQ:EVER) Receives Average Rating of “Moderate Buy” from Analysts

Shares of EverQuote, Inc. (NASDAQ:EVER) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $24.1667.

EVER has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. lifted their price objective on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen cut EverQuote from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th.

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 4,960 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total value of $126,529.60. Following the sale, the chief technology officer owned 165,336 shares of the company’s stock, valued at $4,217,721.36. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total transaction of $111,355.65. Following the completion of the transaction, the chief accounting officer owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This represents a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 51,224 shares of company stock worth $1,079,239 over the last 90 days. Corporate insiders own 23.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC grew its stake in shares of EverQuote by 81.7% in the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock valued at $24,333,000 after purchasing an additional 405,237 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of EverQuote by 110.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock worth $15,720,000 after buying an additional 361,082 shares during the period. AQR Capital Management LLC lifted its position in shares of EverQuote by 95.1% during the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock worth $15,853,000 after buying an additional 319,618 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in EverQuote by 47.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after buying an additional 293,160 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in EverQuote by 615.1% in 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 valued at $8,896,000 after buying an additional 292,172 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.

EverQuote Price Performance

NASDAQ EVER opened at $24.76 on Friday. The company’s fifty day moving average is $20.43 and its two-hundred day moving average is $19.52. EverQuote has a 52-week low of $13.88 and a 52-week high of $28.73. The firm has a market capitalization of $892.10 million, a price-to-earnings ratio of 8.42 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $180.10 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. As a group, sell-side analysts expect that EverQuote will post 1.72 earnings per share for the current fiscal year.

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.