EverQuote (NASDAQ:EVER) Raised to Strong-Buy at Wall Street Zen

EverQuote (NASDAQ:EVER) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on EVER. B. Riley Financial cut their target price on shares of EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Canaccord Genuity Group dropped their price target on shares of EverQuote from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. Zacks Research raised shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $18.00 target price on shares of EverQuote in a research report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, EverQuote presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

EverQuote Stock Performance

NASDAQ:EVER opened at $15.80 on Friday. The company has a market cap of $568.17 million, a price-to-earnings ratio of 5.98 and a beta of 0.55. The stock’s fifty day moving average price is $21.65 and its two-hundred day moving average price is $23.08. EverQuote has a 52-week low of $13.93 and a 52-week high of $30.03.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 23rd. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $0.35 by $1.19. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.The company had revenue of $195.32 million during the quarter, compared to analysts’ expectations of $176.82 million. During the same period last year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities analysts predict that EverQuote will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $25.73, for a total value of $51,460.00. Following the completion of the transaction, the director directly owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jon Ayotte sold 1,730 shares of EverQuote stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $15.56, for a total value of $26,918.80. Following the transaction, the chief accounting officer owned 86,202 shares in the company, valued at $1,341,303.12. This trade represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 55,249 shares of company stock valued at $1,238,364. Insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Large investors have recently bought and sold shares of the company. Comerica Bank grew its position in shares of EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares during the period. Versant Capital Management Inc lifted its stake in EverQuote by 108.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after purchasing an additional 601 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in EverQuote in the 3rd quarter valued at about $52,000. Clearstead Advisors LLC grew its holdings 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 purchasing an additional 826 shares during the period. Finally, Jones Financial Companies Lllp increased its position in EverQuote by 595.8% during the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after buying an additional 2,246 shares during the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

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.