B. Riley says the United States Court of Appeals for the Eleventh Circuit on Friday night struck down the Federal Communications Commission’s One-to-One Consent Rule, which sought to redefine the meaning of “express written consent” under the Telephone Consumer Protection Act. The ruling is “surprising,” as the One-to-One Consent Rule was slated to go into effect on January 27, the analyst tells investors in a research note. The firm expects EverQuote (EVER) will be a “bigger beneficiary” of the vacated ruling, given that 25%-30% of its revenue would have been impacted by the consent changes. For QuinStreet (QNST), the One-to-One Consent Rule was expected to have a minimal impact on the company’s auto insurance business, but impact up to 20%-30% of its Home Services business, adds Riley. Shares of EverQuote are up 19% to $20.87 in morning trading while QuinStreet is up 7% to $23.10. The analyst has a Buy rating on both stocks.
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