Yahoo Finance Why EverQuote (EVER) Stock Is Up Today
What Happened:
Shares of online insurance comparison site EverQuote (NASDAQ:EVER) jumped 16.3% in the afternoon session after the company reported first quarter results that blew past analysts' revenue, adjusted EBITDA, and EPS expectations. Next quarter's revenue guidance also came in higher than Wall Street's estimates. Notably, free cash flow improved significantly, turning positive compared to recent quarters. On the other hand, its revenue growth regrettably slowed. Zooming out, we think this was a solid quarter that shareholders will appreciate despite the slowing topline.
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What is the market telling us:
EverQuote's shares are somewhat volatile and over the last year have had 46 moves greater than 5%. But moves this big are very rare even for EverQuote and that is indicating to us that this news had a significant impact on the market's perception of the business.
EverQuote is up 107% since the beginning of the year. Investors who bought $1,000 worth of EverQuote's shares 5 years ago would now be looking at an investment worth $2,371.
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