EverCommerce (NASDAQ:EVCM) Trading Down 7.3% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCMGet Free Report) was down 7.3% on Tuesday . The company traded as low as $7.45 and last traded at $7.3450. 31,971 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 145,256 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EVCM shares. Wall Street Zen upgraded shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank Of Canada decreased their price objective on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Canaccord Genuity Group raised their target price on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Barclays boosted their price target on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.00.

Get Our Latest Analysis on EverCommerce

EverCommerce Stock Down 8.9%

The stock has a market capitalization of $1.27 billion, a P/E ratio of 39.86, a P/E/G ratio of 0.77 and a beta of 0.84. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock’s 50 day simple moving average is $10.36 and its 200 day simple moving average is $10.60.

EverCommerce (NASDAQ:EVCMGet Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The company had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. During the same period in the previous year, the firm posted $0.04 EPS. EverCommerce’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts predict that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $8.07, for a total transaction of $51,276.78. Following the sale, the director owned 5,011,125 shares in the company, valued at $40,439,778.75. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 628,501 shares of company stock valued at $6,193,197 over the last three months. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently made changes to their positions in EVCM. Bank of America Corp DE acquired a new position in EverCommerce in the second quarter worth $125,000. Prudential Financial Inc. lifted its position in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of EverCommerce in the 2nd quarter valued at about $144,000. Oxford Asset Management LLP bought a new stake in shares of EverCommerce during the 2nd quarter valued at about $168,000. Finally, BNP Paribas Financial Markets grew its position in shares of EverCommerce by 863.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock valued at $171,000 after buying an additional 13,734 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

About EverCommerce

(Get Free Report)

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.

Further Reading

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