B. Riley analyst Daniel Day raised the firm’s price target on EverQuote to $12 from $9 and keeps a Neutral rating on the shares. The biggest takeaway from the Q4 report was that the auto market is showing slow but steady signs of recovery with management’s 2023 guidance more or less in line with prior consensus sell-side expectations, the analyst tells investors in a research note. However, the firm believes the more than tripling of the share price between October and January was pricing in investor hopes that the auto recovery would be "much swifter than previously anticipated."
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Published first on TheFly
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