EverQuote (NASDAQ:EVER) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

EverQuote (NASDAQ:EVER) issued its quarterly earnings results on Monday. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01, FiscalAI reports. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm had revenue of $195.09 million during the quarter, compared to the consensus estimate of $190.56 million.

EverQuote Trading Down 4.4%

NASDAQ EVER traded down $1.12 on Monday, hitting $24.10. 1,057,929 shares of the stock traded hands, compared to its average volume of 866,949. The stock has a 50-day moving average of $22.68 and a 200 day moving average of $19.47. EverQuote has a twelve month low of $13.88 and a twelve month high of $28.73. The company has a market capitalization of $868.32 million, a P/E ratio of 8.20 and a beta of 0.61.

Insiders Place Their Bets

In other news, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total value of $193,073.64. Following the completion of the transaction, the chief technology officer owned 180,493 shares in the company, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jon Ayotte sold 4,611 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the sale, the chief accounting officer owned 74,580 shares of the company’s stock, valued at $1,801,107. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 57,891 shares of company stock valued at $1,243,447 in the last quarter. Insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank raised its holdings in shares of EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after purchasing an additional 772 shares during the period. NewEdge Advisors LLC acquired a new position in shares of EverQuote in the 3rd quarter valued at about $52,000. Tower Research Capital LLC TRC grew its position in shares of EverQuote by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after buying an additional 2,381 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of EverQuote during the 4th quarter valued at about $84,000. Finally, State of Tennessee Department of Treasury acquired a new stake in EverQuote during the second quarter worth about $153,000. Institutional investors own 91.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EVER. Wall Street Zen upgraded EverQuote from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. increased their target price on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

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.