Cambridge, MA- EverQuote Inc. (NASDAQ: ) Director George Neble recently sold 1,250 shares of the company’s Class A common stock. The shares were sold at a weighted average price of $18.18, for a total of approximately $22,725. The insurance market company has shown strong performance over the past year with a 79% revenue margin and maintains an impressive gross margin of 95%. According to the analysis of InvestingPro, the overall financial condition of the company is assessed as good. This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by Neble on June 11, 2024. Following this sale, Neble retains ownership of 53,720 shares of the company. The sale was made in multiple transactions, with prices ranging from $18.04 to $18.38. Analysts maintain a positive outlook on EverQuote, with price targets ranging from $25 to $35 per share. For a more in-depth look at EverQuote’s valuation and growth prospects, see the comprehensive Pro Research report available on InvestingPro.
In other recent news, EverQuote showed significant growth in the third quarter of 2024, with total revenue reaching $144.5 million, up 163% year-over-year. This growth was primarily driven by a 200% increase in auto insurance revenue and a 30% increase in home insurance revenue. analysts Raymond (NS:) James upgraded shares of EverQuote to Strong Buy, setting a new price target of $35.00, despite potential challenges from future commodities. FCC (BME:) rule change. Needham maintained a Buy rating on EverQuote but cut its price target to $30, while Canaccord Genuity reaffirmed a Buy rating and a $35.00 price target. These latest developments highlight EverQuote’s successful collaborations with major carriers that have resulted in data-driven pricing changes and new service offerings. Despite the potential impact of new FCC regulations, EverQuote remains optimistic about long-term growth, as indicated in their fourth quarter guidance, which expects growth of over 100%.
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