Shares of EverQuote Inc. (EVER) surged 6.65% in pre-market trading on Tuesday, following the company's impressive third-quarter 2025 financial results and subsequent analyst upgrades. The online insurance marketplace demonstrated robust growth and operational efficiency, significantly outperforming analyst expectations.
EverQuote reported Q3 revenue of $173.94 million, beating the consensus estimate of $166.1 million. The company's adjusted EBITDA came in at $25.1 million, also surpassing the expected $22.8 million. Earnings per share (EPS) stood at $0.50, comfortably exceeding the analyst forecast of $0.48. The strong performance was largely attributed to EverQuote's automotive insurance vertical, which saw a 21% year-over-year revenue growth.
In response to the strong results, several analysts have raised their price targets for EverQuote. JP Morgan increased its target price to $30 from $29, while Needham reiterated a Buy rating and raised its target price to $40 from $38. The company's focus on leveraging AI and technology investments to drive operational efficiency and revenue growth appears to be paying off, with management providing an optimistic outlook for the fourth quarter. EverQuote projects Q4 revenue between $174 million and $180 million, and adjusted EBITDA of $21 million to $23 million, further fueling investor confidence in the company's growth trajectory.
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