EverQuote (NASDAQ:EVER) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of EverQuote (NASDAQ:EVER) from a buy rating to a strong-buy rating in a research note published on Monday.

EVER has been the subject of several other research reports. Canaccord Genuity Group cut their price target on 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 reissued a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating and set a $18.00 price objective on shares of EverQuote in a research report on Tuesday, February 17th. Needham & Company LLC reduced their target price on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

EverQuote Stock Performance

Shares of EVER opened at $16.10 on Monday. EverQuote has a fifty-two week low of $13.93 and a fifty-two week high of $30.03. The company has a market capitalization of $580.08 million, a price-to-earnings ratio of 6.10 and a beta of 0.54. The firm has a 50-day simple moving average of $19.03 and a 200-day simple moving average of $22.45.

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

Insiders Place Their Bets

In related news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $14.98, for a total value of $215,112.80. Following the sale, the chief executive officer directly owned 541,777 shares in the company, valued at $8,115,819.46. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO David Brainard sold 5,709 shares of the company’s 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 transaction, the chief technology officer directly owned 101,603 shares in the company, valued at $2,545,155.15. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,249 shares of company stock valued at $1,238,364 in the last three months. 25.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of EverQuote by 1,705.9% in the first quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after buying an additional 61,805 shares in the last quarter. Amundi acquired a new position in shares of EverQuote during the 1st quarter worth $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of EverQuote by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after buying an additional 624 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 acquiring an additional 292,172 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in EverQuote by 20.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 45,146 shares of the company’s stock valued at $1,092,000 after acquiring an additional 7,616 shares during the last quarter. Hedge funds and other institutional investors 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.