Zacks Research Weighs in on EverQuote, Inc.’s Q2 2024 Earnings (NASDAQ:EVER)

EverQuote, Inc. (NASDAQ:EVER) – Research analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for shares of EverQuote in a research note issued on Monday, May 20th. Zacks Research analyst T. De now forecasts that the company will earn $0.00 per share for the quarter, up from their prior forecast of ($0.15). The consensus estimate for EverQuote’s current full-year earnings is ($0.03) per share. Zacks Research also issued estimates for EverQuote’s Q3 2024 earnings at ($0.07) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.11) EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.00 EPS, FY2025 earnings at $0.13 EPS, Q1 2026 earnings at $0.08 EPS and FY2026 earnings at $0.27 EPS.

Several other research firms also recently issued reports on EVER. Canaccord Genuity Group increased their target price on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum increased their price objective on EverQuote from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. lifted 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. B. Riley upped their price target on EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Needham & Company LLC raised their price objective on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $26.25.

EverQuote Stock Down 1.0 %

EVER opened at $24.84 on Wednesday. EverQuote has a 12 month low of $5.36 and a 12 month high of $25.69. The company has a 50 day moving average of $20.11 and a 200 day moving average of $14.98.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, May 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $91.07 million for the quarter, compared to the consensus estimate of $80.36 million. EverQuote had a negative net margin of 17.37% and a negative return on equity of 31.65%. The company’s revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates boosted its position in EverQuote by 69.3% during the 3rd quarter. Raymond James & Associates now owns 44,704 shares of the company’s stock valued at $323,000 after buying an additional 18,295 shares during the period. New York State Common Retirement Fund increased its holdings in EverQuote by 15.6% during the 3rd quarter. New York State Common Retirement Fund now owns 42,213 shares of the company’s stock valued at $305,000 after purchasing an additional 5,684 shares during the period. First Eagle Investment Management LLC raised its position in EverQuote by 9.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 554,504 shares of the company’s stock valued at $4,009,000 after purchasing an additional 45,813 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in EverQuote by 193.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 716,865 shares of the company’s stock worth $5,183,000 after buying an additional 472,821 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of EverQuote by 21.3% in the 3rd quarter. Acadian Asset Management LLC now owns 220,251 shares of the company’s stock worth $1,592,000 after buying an additional 38,663 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

Insider Activity

In related news, Director David B. Blundin sold 50,886 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.11, for a total value of $870,659.46. Following the sale, the director now directly owns 722,779 shares of the company’s stock, valued at $12,366,748.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David B. Blundin sold 50,886 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.11, for a total transaction of $870,659.46. Following the transaction, the director now directly owns 722,779 shares in the company, valued at approximately $12,366,748.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ventures Lllp Link sold 5,947 shares of EverQuote stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $17.11, for a total transaction of $101,753.17. Following the transaction, the insider now directly owns 1,849,079 shares in the company, valued at $31,637,741.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,476 shares of company stock worth $8,054,099. 29.79% of the stock is currently owned by insiders.

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.