EverQuote (NASDAQ:EVER) Stock Price Down 7.5% – Should You Sell?

EverQuote, Inc. (NASDAQ:EVER)’s stock price dropped 7.5% on Thursday . The stock traded as low as $17.62 and last traded at $17.4490. Approximately 341,361 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 959,383 shares. The stock had previously closed at $18.86.

Analyst Ratings Changes

A number of research firms have commented on EVER. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a report on Tuesday, May 5th. Zacks Research cut EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Craig Hallum reissued a “buy” rating and set a $20.00 price objective on shares of EverQuote in a research note on Tuesday, February 24th. Wall Street Zen lowered EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Canaccord Genuity Group lowered their price target on shares of EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.17.

EverQuote Stock Down 7.7%

The business’s 50-day simple moving average is $16.49 and its two-hundred day simple moving average is $20.82. The firm 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 posted its quarterly earnings data on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The firm had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $180.10 million. During the same quarter last year, the company posted $0.21 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Sell-side analysts anticipate that EverQuote, Inc. will post 2.03 earnings per share for the current year.

Insider Transactions at EverQuote

In other news, CFO Joseph Sanborn sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $20.70, for a total value of $414,000.00. Following the completion of the transaction, the chief financial officer owned 337,660 shares of the company’s stock, valued at approximately $6,989,562. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO David Brainard sold 9,942 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total transaction of $193,073.64. Following the sale, the chief technology officer owned 180,493 shares in the company, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,400 shares of company stock worth $886,823 in the last 90 days. Insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank raised its position in 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 purchasing an additional 772 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 in the last quarter. Clearstead Advisors LLC raised its holdings in EverQuote by 70.5% in 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. Signature Equity Partners LLC grew its holdings in EverQuote by 65.5% during the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after acquiring an additional 842 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in EverQuote during the 3rd quarter worth approximately $52,000. 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.