Online insurance comparison site EverQuote (NASDAQ:EVER) will be reporting results tomorrow afternoon. Here’s what you need to know.
EverQuote beat analysts’ revenue expectations by 13.9% last quarter, reporting revenues of $117.1 million, up 72.3% year on year. It was an incredible quarter for the company, with optimistic EBITDA guidance for the next quarter and an impressive beat of analysts’ EBITDA estimates.
Is EverQuote a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting EverQuote’s revenue to grow 155% year on year to $140.3 million, a reversal from the 46.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.40 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. EverQuote has missed Wall Street’s revenue estimates twice over the last two years.
Looking at EverQuote’s peers in the online marketplace segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Shutterstock delivered year-on-year revenue growth of 7.4%, beating analysts’ expectations by 4.1%, and Remitly reported revenues up 39.3%, topping estimates by 5%. Shutterstock traded up 12.1% following the results while Remitly was also up 18%.
Read our full analysis of Shutterstock’s results here and Remitly’s results here.
There has been positive sentiment among investors in the online marketplace segment, with share prices up 6.3% on average over the last month. EverQuote is down 17.1% during the same time and is heading into earnings with an average analyst price target of $33.84 (compared to the current share price of $16.36).
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