Needham analyst Mayank Tandon lowered the firm’s price target on EverQuote (EVER) to $25 from $40 but keeps a Buy rating on the shares. The company posted record Q4 results, significantly beating expectations driven by 32.5% Y/Y revenue growth as carriers accelerated spend amid favorable industry profitability, but the management introduced a below-consensus Q1 guide as carriers take a more disciplined approach to start the year following strong Q4 spending levels, the analyst tells investors in a research note.
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Read More on EVER:
- EverQuote price target lowered to $30 from $36 at B. Riley
- EverQuote price target lowered to $22 from $32 at JPMorgan
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