EverQuote price target lowered to $29 from $36.50 at B. Riley

B. Riley lowered the firm’s price target on EverQuote (EVER) to $29 from $36.50 and keeps a Buy rating on the shares. EverQuote reported a Q3 beat and guided Q4 above consensus, the analyst tells investors in a research note. While the impending 1:1 consent requirements under the Telephone Consumer Protection Act will present some near-term headwinds for EverQuote’s third-party agent business, the firm remains encouraged by the sustained strength of the auto insurance recovery as increasing spend from a broader set of carriers and higher population states potentially coming online should provide nice growth tailwinds in 2025.