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Julia Brncic, the General Counsel of EverQuote , Inc. (NASDAQ:EVER), recently sold 740 shares of the company's Class A Common Stock. The shares were sold on January 3, 2025, at a price of $20.29 per share, amounting to a total of $15,014. The transaction comes as EverQuote, with a market capitalization of $689 million, has delivered an impressive 75% return over the past year. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. This transaction was carried out under a Rule 10b5-1 trading plan that Brncic adopted on March 12, 2024.
Additionally, on January 2, 2025, Brncic had 1,457 shares withheld by EverQuote to cover tax obligations related to the vesting of restricted stock units. These shares were valued at $20.25 each, totaling $29,504. Following these transactions, Brncic holds 105,078 shares of EverQuote's Class A Common Stock. The company maintains strong fundamentals with an impressive 95% gross profit margin and a healthy financial profile, earning a "GOOD" rating from InvestingPro, which offers 13 additional valuable insights about the company's prospects.
In other recent news, EverQuote has been the subject of several analyst reviews following the release of its robust Q3 2024 financial results. Raymond (NS:RYMD) James upgraded EverQuote's stock rating to 'Strong Buy,' setting a new price target of $35.00 despite potential challenges posed by an upcoming FCC (BME:FCC) rule change. Needham maintained its 'Buy' rating but lowered the price target to $30 from $38, reflecting current lower valuations in the financial marketplace. Canaccord Genuity also maintained a 'Buy' rating on EverQuote's stock and set a $35.00 price target.
These are recent developments after EverQuote reported Q3 2024 revenues reaching $144.5 million, a 163% increase year-over-year. The revenue boost was primarily driven by a 200% rise in auto insurance revenue and a 30% increase in home insurance revenue. The company has set Q4 guidance, anticipating over 100% growth, and remains optimistic about long-term growth despite potential impacts of new FCC regulations.
EverQuote's strong performance, coupled with its positive outlook, has been recognized by the analyst community. Despite the potential impact of new FCC regulations, EverQuote remains optimistic about long-term growth. The company's collaboration with large carriers has yielded fruitful results, leading to data-driven pricing changes and new service offerings.
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