EVER - Yes Industry Experieces Auto Insurance Slump But This Analyst Is Upbeat on EverQuote's Prospects | Benzinga
Needham analyst Mayank Tandon maintained EverQuote Inc (NASDAQ: EVER) with a Buy and raised the price target from $8 to $10.
EVER reported 3Q23 revenue of $55 million, above Tandon's $52.2 million estimate and the $52.3 million consensus. Revenue declined 46.7% Y/Y due to weakness in auto insurance revenue (down 51.1% Y/Y).
EVER provided a soft 4Q outlook, which assumes ongoing weakness in the insurance advertising market.
EVER's 3Q results came in above expectations on all fronts, though expectations were low ...