EverQuote (EVER) Receives a Buy from Needham

Needham analyst Mayank Tandon reiterated a Buy rating on EverQuote (EVERResearch Report) today and set a price target of $65.00. The company’s shares closed last Tuesday at $30.78.

According to TipRanks.com, Tandon is a top 100 analyst with an average return of 23.7% and a 67.5% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Duck Creek Technologies, and Grid Dynamics Holdings.

Currently, the analyst consensus on EverQuote is a Strong Buy with an average price target of $58.75, which is a 78.0% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $55.00 price target.

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Based on EverQuote’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $97.29 million and GAAP net loss of $3.77 million. In comparison, last year the company earned revenue of $73.8 million and had a GAAP net loss of $934K.

Based on the recent corporate insider activity of 166 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EVER in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

EverQuote, Inc. operates as an online insurance marketplace connecting consumers with insurance providers. It offers car, home and life insurance. The firm’s data and technology platform matches and connects consumers seeking to purchase insurance with relevant options from its broad direct network of insurance providers. The company was founded by Seth N. Birnbaum, David B. Blundin, and Tomas Revesz in August 1, 2008 and is headquartered in Cambridge, MA.