Shares of EverQuote have drifted downward since the election in spite of very strong Q3 results, while the rest of the market has rallied sharply. EverQuote's revenue and variable marketing margin more than doubled in Q3 as auto insurance carriers continued to vie for policy switchers and pay handsomely for EverQuote's leads. Part of investors' nervousness could be stemming from the threat of Canada/Mexico tariffs, which will put upward pressure on auto part prices and hence insurer profitability.
EverQuote stock gains from higher quote request volume, solid performance of automotive and other insurance marketplace verticals and favorable growth estimates.
EverQuote (EVER) reported earnings 30 days ago. What's next for the stock?
The mean of analysts' price targets for EverQuote (EVER) points to a 67.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
EverQuote (EVER) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
EVER's Q3 results reflect solid performances across Automotive insurance and Home and Renters insurance verticals, partially offset by higher expenses.
EverQuote, Inc. (NASDAQ:EVER ) Q3 2024 Earnings Call Transcript November 4, 2024 4:30 PM ET Company Participants Brinlea Johnson - The Blueshirt Group, IR Jayme Mendal - Chief Executive Officer Joseph Sanborn - Chief Financial Officer Conference Call Participants Mayank Tandon - Needham & Company Greg Peters - Raymond James Jason Kreyer - Craig Hallum Jed Kelly - Oppenheimer Ralph Schackart - William Blair Cory Carpenter - JP Morgan Zach Cummins - B. Riley Securities Operator Thank you for standing by.
While the top- and bottom-line numbers for EverQuote (EVER) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
EverQuote (EVER) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to loss of $0.40 per share a year ago.
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EverQuote (EVER) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
EverQuote (EVER) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.