EverQuote Positioned For Growth As Auto Carriers Boost Customer Acquisition, Analyst Says

EverQuote, Inc. EVER shares are trading higher on Tuesday. On Monday, the company reported fourth-quarter results and issued first-quarter revenue guidance above estimates.

The company reported EPS of $0.33, missing the $0.39 estimate, while sales of $147.46 million exceeded the $133.86 million estimate.

EverQuote expects first-quarter FY25 sales of $155 million-$160 million vs. consensus of $136.86 million and adjusted EBITDA of $19 million-$21 million.

JPMorgan analyst Cory A. Carpenter raised the price forecast from $25 to $29 and reiterated an Overweight rating, reflecting upward estimate revisions and the removal of the 1×1 consent overhang.

The analyst said the company has continued the trend of exceeding expectations, with revenue surpassing the upper end of guidance by 8%, driven by auto carriers increasing customer acquisition spending late in the quarter.

EverQuote’s first-quarter guidance was 15% higher than Street estimates, partly due to fewer challenges from the vacated 1×1 consent rule, added the analyst.

Carpenter wrote that while revenue growth was expected to normalize around 15%-20% through the year, he saw the potential for further upside as several carriers remained inactive and some states were still largely closed.

Also, Needham analyst Mayank Tandon maintained a Buy rating and raised the price forecast from $30 to $38.

Investors can gain exposure to the stock via Inspire Fidelis Multi Factor ETF FDLS.

EVER Price Action: EverQuote shares are up 18.71 % at $23.92 at publication Tuesday.

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