{
  "id": 17944268,
  "title": "Canaccord raises EverQuote stock price target on strong Q3 results",
  "url": "https://urgent.news/2026/11/03/canaccord-raises-everquote-stock-price-target-on-strong-q3-results",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-03T09:51:00.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/canaccord-raises-everquote-stock-price-target-on-strong-q3-results-93CH-4994097"
  },
  "original_language": "en",
  "account": "Canaccord upgraded its price target on EverQuote (NASDAQ:EVER) stock to $32 from $28 after reviewing the company's robust third-quarter performance. The financial services firm maintained a Buy rating for EverQuote. EverQuote's Q3 revenue and adjusted EBITDA exceeded analyst expectations and were at the upper end of the company's guidance. The company's revenue growth was 24% over the past year, with auto revenue increasing year-over-year in the low twenties. Strong underwriting profitability drove auto revenue growth, and eight of EverQuote's top ten carriers showed sequential growth. EverQuote's gross profit margin remained impressive at 98%, a testament to its lean asset-light business model. The company's home insurance revenue also accelerated during Q3, driven by carriers spending more than projected. In October, EverQuote launched Luva, an AI-native insurance shopping platform that operates independently. The company's fourth-quarter revenue and adjusted EBITDA forecasts surpassed Wall Street expectations. EverQuote anticipates variable marketing costs and demand margins to decline as it invests in new traffic channels powered by agentic and large language models. Management stated the company is on track to achieve $1 billion in annual revenue within one to two years. EverQuote's management expects healthy carrier demand to persist through 2027, citing industry forecasts predicting a soft market cycle that could extend into 2029 and beyond. InvestingPro analysis suggests the stock is currently undervalued, with a P/E ratio of 7.82. For a comprehensive understanding, readers can refer to EverQuote's Pro Research Report, which provides in-depth insights into the company's growth trajectory and competitive positioning. Recently, EverQuote reported its third-quarter 2026 earnings, surpassing Wall Street's expectations with earnings of $0.49 per share on revenue of $218.1 million, surpassing forecasts of $0.47 per share and $203.23 million in revenue. Revenue grew by 25% year-over-year, while adjusted EBITDA increased by 41% to $35.5 million. Following these impressive results, B.Riley raised its price target for EverQuote shares to $35 while maintaining a Buy rating, emphasizing that all key metrics exceeded expectations and that the fourth-quarter outlook also outperformed consensus estimates.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}