Needham & Company LLC Cuts EverQuote (NASDAQ:EVER) Price Target to $25.00

EverQuote (NASDAQ:EVER) had its target price lowered by Needham & Company LLC from $40.00 to $25.00 in a research note issued to investors on Tuesday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Zacks Research upgraded EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. Wall Street Zen lowered EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Raymond James Financial restated an “outperform” rating and set a $18.00 price target on shares of EverQuote in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.83.

EverQuote Trading Up 1.2%

NASDAQ EVER opened at $16.49 on Tuesday. EverQuote has a 12 month low of $13.93 and a 12 month high of $30.03. The stock has a market cap of $592.98 million, a PE ratio of 6.25 and a beta of 0.50. The stock’s 50 day moving average is $21.87 and its 200 day moving average is $23.14.

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

Insider Buying and Selling

In other EverQuote news, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $25.73, for a total transaction of $51,460.00. Following the sale, the director directly owned 25,219 shares of the company’s stock, valued at $648,884.87. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David Brainard sold 5,709 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total value of $143,010.45. Following the completion of the sale, the chief technology officer directly owned 101,603 shares of the company’s stock, valued at $2,545,155.15. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 58,888 shares of company stock valued at $1,335,743. Insiders own 25.52% of the company’s stock.

Institutional Trading of EverQuote

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. increased its position in EverQuote by 31.6% during the fourth quarter. Invesco Ltd. now owns 49,143 shares of the company’s stock valued at $1,327,000 after acquiring an additional 11,808 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of EverQuote by 40.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,343 shares of the company’s stock worth $360,000 after acquiring an additional 3,813 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of EverQuote by 484.3% during the 4th quarter. NewEdge Advisors LLC now owns 13,223 shares of the company’s stock worth $357,000 after purchasing an additional 10,960 shares during the period. Zacks Investment Management grew its holdings in EverQuote by 1.2% during the 4th quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock valued at $1,790,000 after purchasing an additional 782 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in EverQuote during the 4th quarter valued at about $265,000. 91.54% of the stock is currently owned by institutional investors.

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.