EverQuote, Inc. (NASDAQ:EVER) Sees Large Increase in Short Interest

EverQuote, Inc. (NASDAQ:EVER) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 4,866,301 shares, an increase of 59.7% from the January 29th total of 3,047,726 shares. Based on an average daily volume of 1,377,841 shares, the days-to-cover ratio is presently 3.5 days. Approximately 18.2% of the company’s stock are short sold. Approximately 18.2% of the company’s stock are short sold. Based on an average daily volume of 1,377,841 shares, the days-to-cover ratio is presently 3.5 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EVER. Canaccord Genuity Group lowered their target price on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of EverQuote in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of EverQuote in a report on Tuesday. Finally, Wall Street Zen upgraded EverQuote from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.83.

EverQuote Stock Down 4.2%

NASDAQ EVER opened at $15.80 on Friday. The firm has a market cap of $568.17 million, a P/E ratio of 5.98 and a beta of 0.50. The company’s 50 day moving average is $21.65 and its 200-day moving average is $23.09. EverQuote has a 12-month low of $13.93 and a 12-month high of $30.03.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.19. The business had revenue of $195.32 million during the quarter, compared to analyst estimates of $176.82 million. EverQuote had a net margin of 14.34% and a return on equity of 57.65%. EverQuote’s revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. Equities analysts expect that EverQuote will post 0.72 EPS for the current year.

Insider Activity

In related news, CAO Jon Ayotte sold 1,730 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $15.56, for a total transaction of $26,918.80. Following the completion of the sale, the chief accounting officer directly owned 86,202 shares of the company’s stock, valued at approximately $1,341,303.12. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David Brainard sold 5,709 shares of EverQuote stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total value of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares in the company, valued at $2,545,155.15. This trade represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 58,888 shares of company stock valued at $1,335,743. 25.52% of the stock is currently owned by company insiders.

Institutional Trading of EverQuote

A number of institutional investors have recently added to or reduced their stakes in EVER. Comerica Bank grew its holdings 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 in the last quarter. Versant Capital Management Inc boosted its position in shares of EverQuote by 108.9% in the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after acquiring an additional 601 shares during the period. Clearstead Advisors LLC grew its stake in EverQuote by 70.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after acquiring an additional 826 shares in the last quarter. NewEdge Advisors LLC purchased a new position in EverQuote during the third quarter valued at approximately $52,000. Finally, Jones Financial Companies Lllp increased its holdings in EverQuote by 595.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after acquiring an additional 2,246 shares during the period. Hedge funds and other 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.