Wall Street Zen Downgrades EverQuote (NASDAQ:EVER) to Hold

EverQuote (NASDAQ:EVER) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. initiated coverage on EverQuote in a research note on Monday, August 24th. They issued an “overweight” rating and a $29.00 price target for the company. Zacks Research lowered shares of EverQuote from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Needham & Company LLC lifted their target price on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $28.00 target price on shares of EverQuote in a research report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.17.

EverQuote Trading Down 1.3%

NASDAQ EVER opened at $22.83 on Friday. EverQuote has a 1-year low of $13.88 and a 1-year high of $28.73. The firm’s fifty day simple moving average is $24.98 and its 200-day simple moving average is $20.82. The company has a market capitalization of $822.56 million, a PE ratio of 7.41 and a beta of 0.67.

EverQuote (NASDAQ:EVER) last issued its earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The firm had revenue of $195.09 million for the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, analysts predict that EverQuote will post 1.72 EPS for the current year.

Insider Activity at EverQuote

In related news, CTO David Brainard sold 1,097 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $26.47, for a total value of $29,037.59. Following the completion of the sale, the chief technology officer directly owned 163,030 shares in the company, valued at approximately $4,315,404.10. The trade was a 0.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Shields sold 3,126 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $26.39, for a total value of $82,495.14. Following the sale, the director directly owned 31,198 shares of the company’s stock, valued at $823,315.22. The trade was a 9.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,024 shares of company stock worth $1,567,321 in the last 90 days. Insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

A number of institutional investors have recently modified their holdings of the company. Signature Equity Partners LLC boosted its holdings in shares of 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 buying an additional 842 shares during the period. Clearstead Advisors LLC lifted its position in EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in EverQuote during the 2nd quarter worth $55,000. Allworth Financial LP boosted its holdings in EverQuote by 63.7% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $61,000 after acquiring an additional 997 shares during the period. Finally, IFP Advisors Inc boosted its holdings in EverQuote by 100.1% during the second quarter. IFP Advisors Inc now owns 3,219 shares of the company’s stock valued at $77,000 after acquiring an additional 1,610 shares during the period. Institutional investors own 91.54% of the company’s stock.

About EverQuote

EverQuote, Inc (NASDAQ: EVER) operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote’s marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.