EverQuote (NASDAQ:EVER) Hits New 12-Month Low Following Analyst Downgrade


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EverQuote, Inc. (NASDAQ:EVER)’s stock price hit a new 52-week low during trading on Tuesday after Raymond James lowered their price target on the stock from $58.00 to $50.00. Raymond James currently has an outperform rating on the stock. EverQuote traded as low as $31.00 and last traded at $31.01, with a volume of 3671 shares traded. The stock had previously closed at $34.42.

A number of other research firms also recently issued reports on EVER. Zacks Investment Research upgraded shares of EverQuote from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research note on Tuesday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of EverQuote in a research note on Tuesday, February 23rd. Finally, Oppenheimer reiterated a “buy” rating and set a $70.00 price objective (up from $55.00) on shares of EverQuote in a research note on Tuesday, February 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. EverQuote has a consensus rating of “Buy” and a consensus target price of $55.13.

In other EverQuote news, CFO John Brandon Wagner sold 5,385 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $47.98, for a total value of $258,372.30. Following the completion of the sale, the chief financial officer now directly owns 197,645 shares in the company, valued at $9,483,007.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jayme Mendal sold 9,279 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $50.90, for a total transaction of $472,301.10. Following the completion of the sale, the chief executive officer now owns 197,610 shares of the company’s stock, valued at $10,058,349. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,230 shares of company stock valued at $4,130,528. 45.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Landscape Capital Management L.L.C. boosted its stake in EverQuote by 102.3% in the fourth quarter. Landscape Capital Management L.L.C. now owns 60,206 shares of the company’s stock valued at $2,249,000 after acquiring an additional 30,438 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of EverQuote by 100.7% in the fourth quarter. Mackenzie Financial Corp now owns 27,705 shares of the company’s stock worth $1,035,000 after buying an additional 13,900 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of EverQuote by 10,511.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,000 shares of the company’s stock worth $7,134,000 after buying an additional 189,200 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of EverQuote by 4.4% in the fourth quarter. Rhumbline Advisers now owns 16,927 shares of the company’s stock worth $632,000 after buying an additional 706 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of EverQuote by 21.1% in the fourth quarter. Bank of New York Mellon Corp now owns 818,723 shares of the company’s stock worth $30,580,000 after buying an additional 142,595 shares during the last quarter. Institutional investors own 60.85% of the company’s stock.

The stock’s fifty day simple moving average is $35.96 and its 200-day simple moving average is $39.31. The firm has a market cap of $949.93 million, a PE ratio of -107.61 and a beta of 1.58.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings results on Sunday, May 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The business had revenue of $103.80 million during the quarter, compared to analysts’ expectations of $101.42 million. EverQuote had a negative net margin of 2.59% and a negative return on equity of 14.19%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) earnings per share. On average, equities research analysts expect that EverQuote, Inc. will post -0.42 earnings per share for the current year.

EverQuote Company Profile (NASDAQ:EVER)

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company's online marketplace offers consumers shopping for auto, home and renters, life, health, and commercial insurance. It serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.

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