Cambridge, Massachusetts — EverQuote Inc. (NASDAQ:) Director George Nebel recently sold 1,250 shares of the company's Class A common stock. The shares were sold at a weighted average price of $18.18, for a total of approximately $22,725. The insurance market company has shown strong performance with a 79% return over the past year and has maintained impressive gross profit margins of 95%. according to InvestingPro Through the analysis, the company's overall financial position was rated as good. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by Neble on June 11, 2024. Following this sale, Neble retains ownership of 53,720 shares in the Company. The sale was made in multiple transactions at prices ranging from $18.04 to $18.38. Analysts maintain a positive outlook on EverQuote, with price targets ranging from $25 to $35 per share. For deeper insights into EverQuote's valuation and growth prospects, access Pro Research's comprehensive report available at InvestingPro.
In other recent news, EverQuote showed significant growth in its financial results for the third quarter of 2024, with total revenue reaching $144.5 million, an increase of 163% year over year. This increase was primarily due to a 200% increase in auto insurance revenues and a 30% increase in home insurance revenues. Analysts from Raymond (NS:) James upgraded his rating on EverQuote stock to Strong Buy, setting a new price target of $35.00, despite potential challenges posed by the upcoming release. Federal Communications Commission (BME:) Change the rule. Needham maintained a Buy rating on EverQuote but lowered its price target to $30, while Canaccord Genuity reaffirmed a Buy rating and $35.00 price target. These latest developments highlight EverQuote's successful collaborations with large carriers, leading to data-driven price changes and new service offerings. Despite the potential impacts of new FCC regulations, EverQuote remains optimistic about long-term growth, as demonstrated by Q4 guidance that expects growth in excess of 100%.
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