Everquote Inc Cl A Up 15.66% To $8.61 After Earnings Miss

Tuesday, November 7, 2023 - Everquote Inc Cl A (EVER) reported downside earnings and upside revenues.

Everquote Inc Cl A's earnings came in at an EPS loss of $0.87 per share, 45% lower than estimates for an EPS loss of $0.6 per share. The firm's loss per share expanded by 335% since reporting a loss of $0.2 per share a year ago.

Revenues were upbeat at $55 million. That represents a 46.71% decrease in revenues from the year-ago report and is 4.11% higher than consensus estimates set at $52.8 million.

The stock is up 15.66% to $8.61 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Everquote Inc Cl A a Bearish Sentiment Rank from InvestorsObserver.

Everquote Inc Cl A has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 85, putting Everquote Inc Cl A in the top 25% of stocks. The firm was recently trading at a 52-week low of $5.36 on August 9, 2023 and set a 52-week high on January 18, 2023 at $18.86.

EverQuote Inc is engaged in the business activity of offering an online marketplace for insurance shopping. The online marketplace offers consumers to find the relevant insurance quotes based for car insurance, home insurance, and life insurance. The platform of the company is driven by data science. The firm's data and technology platform match and connects consumers seeking to purchase insurance with relevant options from its broad direct network of insurance providers. It derives a majority of revenue from Direct channels.