Needham maintains EverQuote at Buy, raises price target to $35 from $30

EverQuote (EVER) reported Q3 adjusted EBITDA margin of 16.3% and VMM of 28.7%, with Q4 guidance indicating a sequential VMM decline. The company is investing in agentic and LLM channels, which may compress margins in the near term. The article also highlights three other companies potentially undervalued by 30-35% according to the author's estimates.

EverQuote reported Q3 2026 revenue of $218.1M, up 25.4% YoY, but net income fell 3.8% to $18.2M and EPS declined 2% to $0.49. Growth was driven by higher carrier spending, with auto insurance accounting for 89% of nine-month revenue. The company plans to invest more in AI and advertising, and terminated a $15.5M contract for $4.0M.

Canaccord raised its EverQuote (EVER) price target to $32 from $28, citing strong Q3 results. Revenue grew 24% YoY, with auto and home revenue gains. Q4 outlook exceeded consensus. EverQuote expects $1B annual revenue in 1-2 years. Shares trade at a P/E of 7.82. B.Riley also raised its target to $35, highlighting strong metrics.

B.Riley raised its price target for EverQuote (EVER) to $35, citing strong Q3 2026 results and an upbeat outlook. The company exceeded expectations with $0.49 EPS and $218.1M revenue, up 25% YoY. EverQuote aims for $1B revenue in 1-2 years and trades at a P/E of 7.82.

EverQuote (EVER) reported Q3 2026 revenue of $218.1M, up 25.4% YoY, exceeding estimates. Guidance for Q4 is $218M, 2.6% above consensus. GAAP EPS was $0.49, in line with estimates. Growth driven by AI tools, home insurance expansion, and carrier demand. New AI platform Luva launched to target tech-savvy consumers.

EverQuote reported Q3 net income of $18.2M, or 49 cents per share, with adjusted EPS of 72 cents. Revenue was $218.1M, exceeding analysts' estimates. The company expects Q4 revenue between $213M and $223M, according to Zacks Investment Research.