EverQuote (NASDAQ:EVER) Shares Down 6.8% – What’s Next?

Shares of EverQuote, Inc. (NASDAQ:EVER) fell 6.8% on Thursday . The company traded as low as $14.75 and last traded at $14.6850. 447,672 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 836,507 shares. The stock had previously closed at $15.76.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EVER. Zacks Research downgraded EverQuote from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. B. Riley Financial cut their price target on EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Wall Street Zen downgraded EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $18.00 price objective on shares of EverQuote in a research note on Tuesday, February 17th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of EverQuote in a research note on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, EverQuote has an average rating of “Moderate Buy” and a consensus target price of $23.83.

EverQuote Stock Performance

The stock has a fifty day simple moving average of $15.85 and a 200-day simple moving average of $20.83. The stock has a market cap of $519.55 million, a P/E ratio of 5.46 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $1.19. The firm had revenue of $195.32 million during the quarter, compared to analysts’ expectations of $176.82 million. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.The company’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. On average, research analysts anticipate that EverQuote, Inc. will post 1.91 earnings per share for the current year.

Insider Transactions at EverQuote

In other EverQuote news, CAO Jon Ayotte sold 1,730 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $15.56, for a total transaction of $26,918.80. Following the completion of the transaction, the chief accounting officer owned 86,202 shares in the company, valued at approximately $1,341,303.12. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayme Mendal sold 14,360 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $14.98, for a total value of $215,112.80. Following the transaction, the chief executive officer owned 541,777 shares of the company’s stock, valued at approximately $8,115,819.46. This trade represents a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,095 shares of company stock valued at $272,489. Corporate insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On EverQuote

A number of large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in EverQuote by 108.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after purchasing an additional 601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of EverQuote by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after acquiring an additional 624 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of EverQuote by 4.3% in the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock valued at $392,000 after acquiring an additional 675 shares in the last quarter. Comerica Bank grew its holdings in shares of 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 acquiring an additional 772 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of EverQuote by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock valued at $556,000 after acquiring an additional 776 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.

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.