EverQuote (NASDAQ:EVER) Stock Price Down 7.5% – Time to Sell?

Shares of EverQuote, Inc. (NASDAQ:EVER) traded down 7.5% on Thursday . The company traded as low as $17.62 and last traded at $17.4490. 341,361 shares changed hands during trading, a decline of 64% from the average session volume of 959,383 shares. The stock had previously closed at $18.86.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EVER. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of EverQuote in a research report on Tuesday, May 5th. Wall Street Zen downgraded EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price target on shares of EverQuote in a research report on Tuesday, February 24th. Zacks Research downgraded EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

EverQuote Stock Performance

The company has a fifty day simple moving average of $16.49 and a two-hundred day simple moving average of $20.82. The company has a market capitalization of $627.07 million, a price-to-earnings ratio of 5.92 and a beta of 0.56.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data 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 return on equity of 53.39% and a net margin of 15.35%.The business had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. During the same period in the prior year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts expect that EverQuote, Inc. will post 2.03 EPS for the current year.

Insider Transactions at EverQuote

In other news, CAO Jon Ayotte sold 1,730 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $15.56, for a total value of $26,918.80. Following the completion of the sale, the chief accounting officer directly owned 86,202 shares in the company, valued at approximately $1,341,303.12. The trade was a 1.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph Sanborn sold 20,000 shares of EverQuote stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $20.70, for a total transaction 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 $6,989,562. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,400 shares of company stock valued at $886,823 over the last ninety days. 25.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of EverQuote by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company’s stock worth $59,980,000 after purchasing an additional 20,156 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in EverQuote by 47.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after purchasing an additional 293,160 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of EverQuote by 81.7% during 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. boosted its stake in EverQuote by 27.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 875,702 shares of the company’s stock valued at $23,644,000 after buying an additional 188,335 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in EverQuote by 27.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 800,114 shares of the company’s stock valued at $19,347,000 after acquiring an additional 171,787 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

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.