Last Updated: 08 Nov 2024
Executive Summary
EverQuote Inc. (EVER) is a leading online marketplace for insurance in the United States. The company's platform connects consumers with insurance carriers, allowing them to compare quotes and purchase policies. EverQuote has a strong track record of growth, with revenue increasing by 1.627% year-over-year in the latest quarter. The company is also profitable, with a profit margin of 3.31%. However, EverQuote's stock price has been volatile in recent months, and it is currently trading below its 52-week high.
Company Overview
EverQuote was founded in 1998 and is headquartered in Cambridge, Massachusetts. The company's platform allows consumers to compare quotes from multiple insurance carriers for auto, home, health, and life insurance. EverQuote also offers a variety of tools and resources to help consumers make informed decisions about their insurance coverage.
Fundamental Analysis
EverQuote's financial performance has been strong in recent years. The company's revenue has grown from $283.6 million in 2018 to $408.4 million in 2023. Net income has also increased, from $10.1 million in 2018 to $15.7 million in 2023. EverQuote is also profitable, with a profit margin of 3.31%.
The company's balance sheet is also strong. EverQuote has $124.3 million in cash and equivalents and no debt. This gives the company a strong financial foundation to continue to grow its business.
Technical Analysis
EverQuote's stock price has been volatile in recent months. The stock reached a 52-week high of $28.09 in January 2023, but it has since fallen to $18.47. The stock is currently trading below its 50-day and 200-day moving averages.
The technical analysis suggests that EverQuote's stock is in a downtrend. The stock is trading below its moving averages, and it has made a series of lower lows and lower highs. This indicates that the bears are in control of the stock.
Short Term Outlook
The short-term outlook for EverQuote is bearish. The stock is in a downtrend, and it is trading below its moving averages. This suggests that the stock is likely to continue to decline in the short term.
Long Term Outlook
The long-term outlook for EverQuote is more positive. The company has a strong track record of growth, and it is profitable. The company also has a strong balance sheet. This gives the company a strong foundation to continue to grow its business.
Analyst Recommendations
The analysts are divided on EverQuote's stock. Seven analysts have a buy rating on the stock, two have a hold rating, and none have a sell rating. The average analyst target price is $30.77.
