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

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

EverQuote Stock Down 5.8 %

Shares of EVER stock opened at $23.82 on Thursday. The stock has a 50-day simple moving average of $18.53 and a 200 day simple moving average of $13.82. The stock has a market capitalization of $815.36 million, a P/E ratio of -15.47 and a beta of 0.85. EverQuote has a fifty-two week low of $5.36 and a fifty-two week high of $25.69.

Insider Buying and Selling

In other EverQuote news, major shareholder Ventures Lllp Link sold 2,730 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total value of $59,732.40. Following the completion of the sale, the insider now directly owns 1,553,430 shares of the company’s stock, valued at approximately $33,989,048.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other EverQuote news, major shareholder Ventures Lllp Link sold 2,730 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $21.88, for a total value of $59,732.40. Following the transaction, the insider now owns 1,553,430 shares of the company’s stock, valued at $33,989,048.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Blundin sold 23,362 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $21.88, for a total value of $511,160.56. Following the sale, the director now owns 511,696 shares of the company’s stock, valued at approximately $11,195,908.48. The disclosure for this sale can be found here. Insiders have sold a total of 524,065 shares of company stock valued at $9,544,076 over the last three months. Company insiders own 29.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EVER. Craig Hallum boosted their price objective on EverQuote from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC increased their price target on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley lifted their price objective on shares of EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of EverQuote from $13.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Canaccord Genuity Group boosted their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.