EverCommerce Inc. (NASDAQ:EVCM – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $8.61 and traded as low as $8.08. EverCommerce shares last traded at $8.35, with a volume of 73,362 shares changing hands.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Royal Bank Of Canada dropped their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings raised EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 24th. Finally, Barclays upped their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.00.
EverCommerce Stock Performance
The business’s 50-day moving average price is $8.61 and its 200-day moving average price is $10.31. 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 has a market cap of $1.48 billion, a PE ratio of 46.39, a P/E/G ratio of 0.84 and a beta of 0.63.
EverCommerce (NASDAQ:EVCM – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. As a group, equities research analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.
Insider Transactions at EverCommerce
In other news, Director Eric Remer sold 47,353 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total transaction of $390,188.72. Following the transaction, the director directly owned 5,022,792 shares of the company’s stock, valued at approximately $41,387,806.08. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 436,327 shares of company stock valued at $4,120,251 over the last 90 days. 10.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On EverCommerce
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVCM. Ethic Inc. purchased a new position in shares of EverCommerce in the 3rd quarter valued at approximately $88,000. Black Diamond Financial LLC acquired a new position in EverCommerce during the third quarter valued at $2,464,000. Engineers Gate Manager LP lifted its holdings in shares of EverCommerce by 16.7% in the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after buying an additional 2,982 shares during the period. Bank of America Corp DE acquired a new position in EverCommerce in the second quarter valued at approximately $125,000. Finally, BlackRock Inc. purchased a new position in shares of EverCommerce during the 2nd quarter valued at approximately $10,724,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.
About EverCommerce
EverCommerce, Inc is a software and technology company that provides integrated, cloud-based solutions for service-oriented small and midsize businesses. Its platforms are designed to help businesses manage operations, customer relationships, payments, marketing and other administrative functions through specialized applications tailored to specific industries.
The company serves a broad range of vertical markets, including home and field services, health and wellness, fitness, education, professional services and other appointment- or membership-based businesses.
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