EverQuote, Inc. (NASDAQ:EVER) Short Interest Up 59.7% in February

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 4,866,301 shares, an increase of 59.7% from the January 29th total of 3,047,726 shares. Based on an average daily volume of 1,377,841 shares, the days-to-cover ratio is currently 3.5 days. Currently, 18.2% of the company’s shares are sold short. Currently, 18.2% of the company’s shares are sold short. Based on an average daily volume of 1,377,841 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EVER. Craig Hallum reaffirmed a “buy” rating and set a $20.00 target price on shares of EverQuote in a research note on Tuesday, February 24th. B. Riley Financial dropped their price target on EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. JPMorgan Chase & Co. lowered their target price on EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. Finally, Zacks Research lowered EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Insider Buying and Selling at EverQuote

In related news, CTO David Brainard sold 5,709 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total transaction of $143,010.45. Following the sale, the chief technology officer directly owned 101,603 shares in the company, valued at approximately $2,545,155.15. This trade represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were 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 approximately $648,884.87. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,249 shares of company stock valued at $1,238,364 in the last quarter. Company insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

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

EverQuote Stock Up 1.3%

NASDAQ:EVER traded up $0.21 during trading hours on Monday, reaching $16.01. The company had a trading volume of 437,959 shares, compared to its average volume of 946,551. EverQuote has a one year low of $13.93 and a one year high of $30.03. The stock has a 50-day moving average of $21.65 and a two-hundred day moving average of $23.08. The firm has a market capitalization of $575.68 million, a PE ratio of 6.06 and a beta of 0.55.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, February 23rd. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $0.35 by $1.19. The business had revenue of $195.32 million for the quarter, compared to the consensus estimate of $176.82 million. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.EverQuote’s revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts expect that EverQuote will post 0.72 earnings per share for the current year.

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.