What Happened?

Shares of online insurance comparison site EverQuote (NASDAQ: EVER) jumped 11.4% in the morning session after the company reported strong third-quarter financial results that surpassed analyst expectations for both revenue and earnings. The online insurance marketplace announced quarterly revenue of $173.9 million, a 20.3% increase year-over-year that beat analyst estimates. Earnings per share also impressed, coming in at $0.50, which was significantly higher than the consensus forecast of $0.38. Adding to the positive sentiment, the company provided an optimistic outlook for the fourth quarter, guiding for revenue of $177 million at the midpoint, which was well above what analysts were expecting.

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What Is The Market Telling Us

EverQuote’s shares are very volatile and have had 27 moves greater than 5% over the last year. But moves this big are rare even for EverQuote and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 4 days ago when the stock gained 3.9% on the news that blockbuster quarterly results from tech titans Apple and Amazon boosted investor confidence, supported by impressive earnings from key cloud and crypto leaders, Cloudflare and Coinbase. 

Amazon's shares surged after reporting that its cloud computing division, Amazon Web Services (AWS), saw revenue jump 20% year-over-year to $33 billion. This accelerated growth is largely attributed to the high demand for computing power required for artificial intelligence applications. Apple also contributed to the positive sentiment, topping its own quarterly estimates and forecasting a record-breaking holiday quarter. The strong performance from these industry leaders has lifted the broader market. Impressive results from key cloud and crypto leaders, Cloudflare and Coinbase strongly supported the broader tech momentum. Cloudflare reported a "beat and raise" quarter with revenue soaring 30.7% year-over-year to $562 million and billings jumping nearly 40%, signaling strong future growth. Its non-GAAP operating margin expanded to 15.3%, and Free Cash Flow grew by nearly 60%, confirming management's efficient execution, leading the company to raise its full-year EPS guidance. 

Concurrently, Coinbase's third-quarter results also significantly topped estimates, driven by better-than-expected trading revenue and the increasing adoption of its stablecoin, USDC. The company reported $1.87 billion in revenue and an adjusted EPS of $1.44, while its strategic acquisition of Deribit advanced its "Everything Exchange" vision, resulting in over $840 billion in derivatives trading volume and aggressive expansion across the crypto market.

EverQuote is up 24.2% since the beginning of the year, but at $25.15 per share, it is still trading 15.4% below its 52-week high of $29.71 from March 2025. Investors who bought $1,000 worth of EverQuote’s shares 5 years ago would now be looking at an investment worth $641.54.

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