EverQuote (NASDAQ:EVER) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of EverQuote (NASDAQ:EVER) from a hold rating to a buy rating in a report released on Saturday.

A number of other research firms have also recently commented on EVER. Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.17.

EverQuote Stock Up 4.8%

EVER stock opened at $26.25 on Friday. The business has a fifty day moving average of $22.09 and a two-hundred day moving average of $19.46. The stock has a market cap of $945.79 million, a price-to-earnings ratio of 8.93 and a beta of 0.61. EverQuote has a 52-week low of $13.88 and a 52-week high of $28.73.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.43 by $0.08. The business had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, sell-side analysts anticipate that EverQuote will post 1.72 EPS for the current year.

Insider Transactions at EverQuote

In other news, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the transaction, the chief accounting officer owned 74,580 shares in the company, valued at approximately $1,801,107. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $20.70, for a total value of $414,000.00. Following the sale, the chief financial officer directly owned 337,660 shares in the company, valued at $6,989,562. This trade represents a 5.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 57,891 shares of company stock valued at $1,243,447. 23.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in shares of EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 772 shares during the last quarter. Signature Equity Partners LLC lifted its position in EverQuote by 65.5% in the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after acquiring an additional 842 shares during the last quarter. NewEdge Advisors LLC acquired a new position in EverQuote in the third quarter valued at $52,000. Clearstead Advisors LLC boosted its stake 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. Finally, Tower Research Capital LLC TRC grew its holdings in shares of EverQuote by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock worth $79,000 after purchasing an additional 2,381 shares during the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

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.