Online insurance comparison site EverQuote (NASDAQ:) will be reporting earnings tomorrow after market hours. Here’s what investors should know.
EverQuote beat analysts’ revenue expectations by 11.8% last quarter, reporting revenues of $55.71 million, down 36.9% year on year. It was a very strong quarter for the company, with optimistic revenue guidance for the next quarter.
Is EverQuote a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting EverQuote’s revenue to decline 26.5% year on year to $80.31 million, a further deceleration from the 1.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 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 Q1 results, giving us a hint as to what we can expect. MercadoLibre (NASDAQ:) delivered year-on-year revenue growth of 36%, beating analysts’ expectations by 12.1%, and Remitly reported revenues up 32%, falling short of estimates by 1.7%. MercadoLibre traded up 8.2% following the results while Remitly was down 12.2%.
Read the full analysis of MercadoLibre’s and Remitly’s results on StockStory.
Investors in the online marketplace segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. EverQuote is up 9.3% during the same time and is heading into earnings with an average analyst price target of $24.3 (compared to the current share price of $21.24).
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