Canaccord analyst Michael Graham lowered the firm’s price target on EverQuote to $11 from $12 and keeps a Buy rating on the shares. The firm said Q2 results reflected ongoing pressure within the P&C vertical as auto insurance carriers continue to be impacted by compressed profitability and an elongated timetable for achieving rate adequacy from state regulators.
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Read More on EVER:
- EverQuote sees Q3 revenue $51M-$56M, consensus $75.8M
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- Everquote (EVER) Q2 Earnings Cheat Sheet
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