EverQuote is said to be the leading online marketplace that offers car insurance, while car insurance startups are said to be very popular among venture capitalists.
EverQuote went public on June 27th, 2018, while the Chinese-based company had its IPO evaluated at 446 million dollars, eventually raising 84 million dollars with the opening sale, having been approved for a listing on Nasdaq under the thicker (EVER).
The company priced its shares between the value of 15$ and 17$, however, EVER opened at the price of 18$, later on dipping to touch 12$ then falling down to the current price of around 8$, while the shares are following an upward trend with the last closing at the beginning of Q2 2019.
Is EverQuote Inc. Share (EVER) a Profitable Investment in the Long Run?
EverQuote might have dropped in performance as far as the shares concerned, as EVER shares are presently traded over -50% lower when compared to its opening price back at the end of June.
However, the market watchdogs warn that this is the case as US companies of the same sector usually tend to push Chinese competitors out of equation. According to the financial reports that the company published on February 25th, 2019, full-year revenue for 2018 is marking 29% of increases year to year, recording 163.3 million dollars.
The company also brought some substantial changes at the beginning of April 2019, bringing a new VP of Marketing Performance at EverQuote. The newly appointed VP is Anand Iyer, whose experience in managing marketing teams at eBay and Amazon is said that should have a major impact on the company’s performance when it comes to attracting new customers.
Furthermore, EverQuote is recording fourth quarter automotive revenue growth at an increase by 15% year to year, additionally sharing that the fourth quarter revenue also increased by 23% to 39.8 million dollars.