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Investing.com - Raymond James downgraded EverQuote (NASDAQ:EVER) from Strong Buy to Outperform on Monday, while reducing its price target to $30.00 from $35.00. According to InvestingPro data, the company maintains a "GREAT" financial health score of 3.61, with strong fundamentals including a solid balance sheet with more cash than debt.
The downgrade comes as Raymond James expects revenue growth to decelerate year-over-year in the third quarter of 2025 and beyond, despite continued strong advertising spending from personal auto carriers.
The firm projects that revenue growth could moderate to a high single-digit rate by fiscal year 2027, falling below management’s target, with the rate of adjusted EBITDA margin expansion expected to slow after fiscal year 2025.
Raymond James noted that EverQuote stock has significantly outperformed the broader market, gaining 28% year-to-date compared to the S&P 500’s 13% increase.
The stock currently trades at approximately an 11% premium to its 200-day moving average, which Raymond James identified as the largest return year-to-date and highest premium to the 200-day moving average within its insurance brokerage and technology coverage universe.
In other recent news, EverQuote Inc. reported strong financial results for the second quarter of 2025, with total revenues rising 34% year-over-year to $156.6 million. The company also achieved a record net income of $14.7 million, a significant increase from the previous year’s $6.4 million. In a separate development, EverQuote announced the repurchase of 900,000 shares of its Class A common stock for $21 million from entities affiliated with Chairman and Co-Founder David Blundin. The repurchase was executed at a price representing a discount to recent market values. Additionally, JPMorgan adjusted its price target for EverQuote to $29.00 from $30.00, maintaining an Overweight rating. This adjustment followed EverQuote’s second-quarter results, which aligned with guidance but did not exceed revenue expectations as in previous quarters. The firm cited concerns about how tariffs might impact second-half margins as a reason for the revised target. These developments provide investors with a comprehensive view of EverQuote’s recent activities and financial standing.
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