EverQuote (NASDAQ:EVER) Shares Down 6.3% – What’s Next?

EverQuote, Inc. (NASDAQ:EVER) dropped 6.3% during trading on Wednesday . The stock traded as low as $23.08 and last traded at $23.3640. 232,865 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 820,654 shares. The stock had previously closed at $24.94.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EVER. Zacks Research downgraded shares of EverQuote from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 price target on shares of EverQuote in a research note on Thursday, August 13th. Wall Street Zen cut shares of EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Needham & Company LLC lifted their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EverQuote has an average rating of “Moderate Buy” and a consensus price target of $28.17.

EverQuote Stock Performance

The stock has a market cap of $842.56 million, a P/E ratio of 7.60 and a beta of 0.67. The firm’s fifty day simple moving average is $25.27 and its 200-day simple moving average is $20.32.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $195.09 million during the quarter, compared to analysts’ expectations of $191.06 million. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

Insider Transactions at EverQuote

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total transaction of $111,355.65. Following the completion of the sale, the chief accounting officer directly owned 74,580 shares in the company, valued at $1,801,107. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mira Wilczek sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.07, for a total transaction of $238,165.00. Following the completion of the sale, the director directly owned 110,353 shares in the company, valued at approximately $2,766,549.71. This trade represents a 7.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 42,043 shares of company stock valued at $1,058,112. 23.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EverQuote

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVER. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of EverQuote by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after purchasing an additional 624 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of EverQuote by 4.3% during the second quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock valued at $392,000 after purchasing an additional 675 shares during the last quarter. Comerica Bank boosted its stake in shares of EverQuote by 235.4% in 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. Legal & General Group Plc grew its stake in shares of EverQuote by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 24,301 shares of the company’s stock valued at $556,000 after purchasing an additional 776 shares during the period. Finally, Zacks Investment Management grew its position in EverQuote by 1.2% during the fourth quarter. Zacks Investment Management now owns 66,281 shares of the company’s stock valued at $1,790,000 after buying an additional 782 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

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.