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EverQuote (EVER) Surges 8.9%: Is This an Indication of Further Gains?
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EverQuote (EVER - Free Report) shares rallied 8.9% in the last trading session to close at $14.66. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.6% gain over the past four weeks.
EverQuote believes it is well poised to benefit from the normalization of auto insurance carrier demand. It also remains focused on rapidly expanding into new verticals. Increasing consumer traffic, higher quote request volume and innovating advertiser products and services will continue to drive revenues. Auto carrier recovery is expected to drive a significant rebound to revenue growth.
EverQuote remains focused on increasing consumer traffic by expanding existing advertising channels and adding new channels. It continues to gain from overall consumer quote requests. It reflects the company’s success in generating consumer traffic and the potential to increase the share of insurance shopping consumers. Over the long term, EverQuote intends to increase consumer traffic by leveraging the features and growing data assets of the platform.
Lower advertising costs coupled with growth in revenue per quote request helped the company deliver improved variable marketing margin (VMM), one of the primary metrics for managing business. Apart from the auto insurance vertical, the company expects VMM to benefit from strong revenue growth within the health direct-to-consumer agency during the annual health open enrollment period.
This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of -19.2%. Revenues are expected to be $49.89 million, down 43.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For EverQuote, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EVER going forward to see if this recent jump can turn into more strength down the road.
EverQuote is a member of the Zacks Insurance - Multi line industry. One other stock in the same industry, Corebridge Financial (CRBG - Free Report) , finished the last trading session 0.2% lower at $23.38. CRBG has returned -2% over the past month.
For Corebridge, the consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $0.99. This represents a change of +12.5% from what the company reported a year ago. Corebridge currently has a Zacks Rank of #3 (Hold).
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EverQuote (EVER) Surges 8.9%: Is This an Indication of Further Gains?
EverQuote (EVER - Free Report) shares rallied 8.9% in the last trading session to close at $14.66. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.6% gain over the past four weeks.
EverQuote believes it is well poised to benefit from the normalization of auto insurance carrier demand. It also remains focused on rapidly expanding into new verticals. Increasing consumer traffic, higher quote request volume and innovating advertiser products and services will continue to drive revenues. Auto carrier recovery is expected to drive a significant rebound to revenue growth.
EverQuote remains focused on increasing consumer traffic by expanding existing advertising channels and adding new channels. It continues to gain from overall consumer quote requests. It reflects the company’s success in generating consumer traffic and the potential to increase the share of insurance shopping consumers. Over the long term, EverQuote intends to increase consumer traffic by leveraging the features and growing data assets of the platform.
Lower advertising costs coupled with growth in revenue per quote request helped the company deliver improved variable marketing margin (VMM), one of the primary metrics for managing business. Apart from the auto insurance vertical, the company expects VMM to benefit from strong revenue growth within the health direct-to-consumer agency during the annual health open enrollment period.
This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of -19.2%. Revenues are expected to be $49.89 million, down 43.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For EverQuote, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EVER going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
EverQuote is a member of the Zacks Insurance - Multi line industry. One other stock in the same industry, Corebridge Financial (CRBG - Free Report) , finished the last trading session 0.2% lower at $23.38. CRBG has returned -2% over the past month.
For Corebridge, the consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $0.99. This represents a change of +12.5% from what the company reported a year ago. Corebridge currently has a Zacks Rank of #3 (Hold).