EverQuote Inc. (EVER) saw its stock price surge 20.30% in the pre-market trading session on Tuesday, following the company's impressive fourth-quarter 2024 financial results that surpassed Wall Street's expectations. The online insurance marketplace reported revenue of $147.5 million for the quarter ended December 31, 2024, a staggering 165% increase from the same period last year. EverQuote's GAAP earnings per share (EPS) of $0.33 also handily beat the consensus estimate of $0.20 per share.
Analysts were particularly impressed with EverQuote's strong profitability metrics, with adjusted EBITDA reaching $18.92 million, well above expectations of $15.22 million. The company's free cash flow margin stood at an impressive 13.7%, reflecting its ability to generate healthy cash flows from operations. This impressive earnings beat, coupled with robust revenue growth and profitability, appears to be the primary driver behind the stock's pre-market surge.
EverQuote's outperformance in the fourth quarter was further validated by analysts' positive commentary. William Blair maintained a "Hold" rating on the stock, while JP Morgan raised its target price to $29 from $25, citing the company's strong momentum.