EverQuote Analysts Boost Their Forecasts After Strong Results
Portfolio Pulse from Avi Kapoor
EverQuote, Inc. (NASDAQ:EVER) reported Q1 financial results surpassing expectations with earnings of 5 cents per share against expected losses and sales of $91.06 million against estimates of $80.31 million. The company also provided Q2 revenue guidance significantly above estimates, forecasting $100 million to $105 million versus the expected $77.29 million. Following these results, EverQuote shares surged 14.7% to $24.50. Analysts from Needham and Canaccord Genuity raised their price targets on EverQuote to $30, maintaining a Buy rating.
May 07, 2024 | 3:51 pm
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EverQuote reported Q1 earnings and sales above expectations and provided optimistic Q2 revenue guidance, leading to a 14.7% increase in share price. Analysts from Needham and Canaccord Genuity raised their price targets to $30.
The positive earnings report and higher-than-expected revenue guidance for Q2 indicate strong financial health and growth prospects for EverQuote, leading to a significant share price increase. The raised price targets by Needham and Canaccord Genuity further validate the company's upward trajectory, likely influencing investor sentiment positively in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100