EverQuote (NASDAQ:EVER) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

EverQuote (NASDAQ:EVER) issued its quarterly earnings results on Monday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12, Briefing.com reports. EverQuote had a negative return on equity of 34.38% and a negative net margin of 17.81%. The firm had revenue of $91.07 million during the quarter, compared to the consensus estimate of $80.36 million. During the same period last year, the company earned ($0.08) earnings per share. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. EverQuote updated its Q2 2024 guidance to EPS.

EverQuote Stock Up 18.4 %

Shares of EVER stock opened at $25.29 on Wednesday. EverQuote has a fifty-two week low of $5.36 and a fifty-two week high of $25.69. The stock has a market cap of $865.68 million, a P/E ratio of -16.42 and a beta of 0.85. The business has a fifty day simple moving average of $18.38 and a 200-day simple moving average of $13.69.

Insider Activity

In other news, Director David B. Blundin sold 89,177 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $15.00, for a total value of $1,337,655.00. Following the completion of the transaction, the director now owns 802,589 shares in the company, valued at $12,038,835. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Ventures Lllp Link sold 91,838 shares of EverQuote stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $19.37, for a total transaction of $1,778,902.06. Following the completion of the sale, the insider now owns 1,649,044 shares in the company, valued at approximately $31,941,982.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David B. Blundin sold 89,177 shares of EverQuote stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $15.00, for a total value of $1,337,655.00. Following the sale, the director now owns 802,589 shares of the company’s stock, valued at approximately $12,038,835. The disclosure for this sale can be found here. Insiders sold a total of 524,065 shares of company stock worth $9,544,076 over the last 90 days. 29.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EVER shares. Needham & Company LLC increased their price target on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley raised their target price on EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on EverQuote from $13.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Canaccord Genuity Group raised their target price on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Craig Hallum raised their target price on EverQuote from $26.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, EverQuote currently has a consensus rating of “Buy” and a consensus price target of $26.25.

About EverQuote

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company 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.