We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
EverQuote (EVER) Down 11.1% Since Last Earnings Report: Can It Rebound?
Read MoreHide Full Article
A month has gone by since the last earnings report for EverQuote (EVER - Free Report) . Shares have lost about 11.1% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is EverQuote due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
EverQuote Q2 Loss Narrower Than Expected, View Tweaked
EverQuote, Inc. incurred a net loss of 12 cents per share in second-quarter 2022, narrower than the Zacks Consensus Estimate of a loss of 47 cents. The bottom line was however wider than the year-ago quarter’s loss of 7 cents per share.
EverQuote witnessed lower revenues from Automotive insurance but higher revenues in the Other insurance vertical. Expenses decreased.
Behind the Headlines
Total revenues of $101.9 million surpassed the Zacks Consensus Estimate by 7.2%. The top line declined about 3% year over year, primarily attributable to a weak performance in the Automotive insurance vertical.
Revenues in the Automotive insurance vertical were $81.4 million, down 6% year over year. Nonetheless, revenues in the Other insurance vertical totaled $20.5 million, which grew 10% year over year.
Direct-to-Consumer-Agency operations generated $13.1 million in revenues, representing 13% of total revenues. Total costs and operating expenses decreased 1.1% to $105.7 million, mainly due to lower research and development expenses.
EverQuote’s Variable Marketing Margin increased 1% year over year in the quarter under review to $33.1 million. Adjusted EBITDA was $1.4 million, which decreased 78.8% year over year.
Financial Update
EverQuote exited the second quarter with cash and cash equivalents of $41.3 million, up 18.4% from the 2021-end level. Total assets were $170.5 million, up 12.1% year over year. Total stockholders' equity increased 24.8% to $106.3 million. Cash used in operations was $3.6 million against cash provided by operations of $7.7 million in the year-ago quarter.
Q3 Guidance
EVER estimates revenues in the range of $90 - $95 million, variable marketing margin of $24 - $27 million and adjusted EBITDA in the band of ($3) to ($6) million.
2022 Guidance
EverQuote expects revenues of $400 - $410 million, variable marketing margin of $116 - $122 million and adjusted EBITDA of ($1) to ($7) million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.
The consensus estimate has shifted 7.14% due to these changes.
VGM Scores
Currently, EverQuote has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, EverQuote has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
EverQuote (EVER) Down 11.1% Since Last Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for EverQuote (EVER - Free Report) . Shares have lost about 11.1% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is EverQuote due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
EverQuote Q2 Loss Narrower Than Expected, View Tweaked
EverQuote, Inc. incurred a net loss of 12 cents per share in second-quarter 2022, narrower than the Zacks Consensus Estimate of a loss of 47 cents. The bottom line was however wider than the year-ago quarter’s loss of 7 cents per share.
EverQuote witnessed lower revenues from Automotive insurance but higher revenues in the Other insurance vertical. Expenses decreased.
Behind the Headlines
Total revenues of $101.9 million surpassed the Zacks Consensus Estimate by 7.2%. The top line declined about 3% year over year, primarily attributable to a weak performance in the Automotive insurance vertical.
Revenues in the Automotive insurance vertical were $81.4 million, down 6% year over year. Nonetheless, revenues in the Other insurance vertical totaled $20.5 million, which grew 10% year over year.
Direct-to-Consumer-Agency operations generated $13.1 million in revenues, representing 13% of total revenues. Total costs and operating expenses decreased 1.1% to $105.7 million, mainly due to lower research and development expenses.
EverQuote’s Variable Marketing Margin increased 1% year over year in the quarter under review to $33.1 million. Adjusted EBITDA was $1.4 million, which decreased 78.8% year over year.
Financial Update
EverQuote exited the second quarter with cash and cash equivalents of $41.3 million, up 18.4% from the 2021-end level. Total assets were $170.5 million, up 12.1% year over year. Total stockholders' equity increased 24.8% to $106.3 million.
Cash used in operations was $3.6 million against cash provided by operations of $7.7 million in the year-ago quarter.
Q3 Guidance
EVER estimates revenues in the range of $90 - $95 million, variable marketing margin of $24 - $27 million and adjusted EBITDA in the band of ($3) to ($6) million.
2022 Guidance
EverQuote expects revenues of $400 - $410 million, variable marketing margin of $116 - $122 million and adjusted EBITDA of ($1) to ($7) million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.
The consensus estimate has shifted 7.14% due to these changes.
VGM Scores
Currently, EverQuote has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, EverQuote has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.