EverQuote’s (EVER) Buy Rating Reiterated at B. Riley Financial

B. Riley Financial reaffirmed their buy rating on shares of EverQuote (NASDAQ:EVER) in a research report released on Tuesday morning, MarketBeat reports. The brokerage currently has a $34.00 target price on the stock, up from their prior target price of $30.00.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. upped their price objective on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Needham & Company LLC upped their price target on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.67.

EverQuote Stock Performance

EVER opened at $23.82 on Tuesday. EverQuote has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The firm’s fifty day moving average is $23.06 and its 200 day moving average is $19.43. The stock has a market cap of $858.23 million, a price-to-earnings ratio of 7.73 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $195.09 million during the quarter, compared to analyst estimates of $191.06 million. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.EverQuote’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 EPS. On average, equities research analysts predict that EverQuote will post 1.72 earnings per share for the current year.

Insider Transactions at EverQuote

In related news, CFO Joseph Sanborn sold 6,667 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total value of $164,208.21. Following the sale, the chief financial officer directly owned 311,908 shares in the company, valued at approximately $7,682,294.04. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Brainard sold 4,960 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $25.51, for a total value of $126,529.60. Following the transaction, the chief technology officer directly owned 165,336 shares of the company’s stock, valued at approximately $4,217,721.36. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 27,586 shares of company stock valued at $629,114. 23.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverQuote

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its position in EverQuote by 81.7% in the fourth quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after buying an additional 405,237 shares during the last quarter. Balyasny Asset Management L.P. increased its position in EverQuote by 110.7% during the third quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock valued at $15,720,000 after acquiring an additional 361,082 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of EverQuote by 95.1% in the second quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock valued at $15,853,000 after acquiring an additional 319,618 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of EverQuote by 47.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after acquiring an additional 293,160 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of EverQuote by 615.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock worth $8,896,000 after acquiring an additional 292,172 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.