Long Position on EVER @ $23.25 on 5/16/2024 (Fundamentals)

EverQuote, Inc. (EVER) operates an online marketplace for insurance shopping in the United States.

The company offers auto, home and renters, and life insurance.

The company serves carriers and agents, as well as indirect distributors.

The company was formerly known as AdHarmonics, Inc., and changed its name to EverQuote, Inc. in November 2014. EverQuote, Inc. was incorporated in 2008 and is based in Cambridge, Massachusetts.

Please note, this stock reported earnings on Monday, May 6th.

EverQuote reported earnings of $0.05 per share on revenue of $91.07 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.07 per share on revenue of $80.76 million. The company beat expectations by 225.00% while revenue fell 16.62% compared to the same quarter a year ago.

The company said it expects second quarter revenue of $100.0 million to $105.0 million. The current consensus revenue estimate is $77.84 million for the quarter ending June 30, 2024.

After a strong earnings report, share prices should head higher.

Entry Point: $23.25

Trading Range: $5.36 - $25.69

Stop Loss: $22.10

Target Price: $25.50

Position closed on 6/11/2024 at price of $22.10 with a -4.95% loss in 26 days.

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