EverCommerce (NASDAQ:EVCM) Shares Gap Up - Should You Buy?

Key Points

• EverCommerce shares gapped up to about $12.08 from $11.55 and last traded near $12.19, but Wall Street remains mixed with an average rating of Hold and an average target price of $10.71.
• The company slightly beat revenue expectations ($151.15M vs. $150.06M) but missed EPS ($0.03 vs. $0.04), and trades at a high P/E of 130.85 with a thin net margin (~3%).
• Insiders have been selling (310,945 shares worth ~$3.48M in the last 90 days, via 10b5-1 plans) while institutional investors own about 97.9% of the stock.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $11.55, but opened at $12.08. EverCommerce shares last traded at $12.1850, with a volume of 1,876 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of EverCommerce from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, March 13th. Oppenheimer reiterated an "outperform" rating on shares of EverCommerce in a research report on Friday, March 13th. Wall Street Zen upgraded shares of EverCommerce from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Weiss Ratings upgraded shares of EverCommerce from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, March 13th. Finally, Citizens Jmp downgraded shares of EverCommerce from an "outperform" rating to a "market perform" rating in a research report on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $10.71.

EverCommerce Price Performance

The company has a market capitalization of $2.08 billion, a P/E ratio of 130.85, a P/E/G ratio of 2.67 and a beta of 0.94. The business's 50-day simple moving average is $11.43 and its 200 day simple moving average is $11.10. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.The company had revenue of $151.15 million for the quarter, compared to the consensus estimate of $150.06 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that EverCommerce Inc. will post 0.23 EPS for the current year.

Insider Transactions at EverCommerce

In other news, President Matthew David Feierstein sold 5,000 shares of EverCommerce stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $11.40, for a total value of $57,000.00. Following the transaction, the president owned 2,155,606 shares of the company's stock, valued at $24,573,908.40. The trade was a 0.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 5,867 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $11.49, for a total transaction of $67,411.83. Following the completion of the sale, the chief executive officer owned 2,914,923 shares in the company, valued at $33,492,465.27. The trade was a 0.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 310,945 shares of company stock worth $3,476,960 over the last 90 days. 10.40% of the stock is owned by insiders.

Institutional Trading of EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd raised its holdings in shares of EverCommerce by 110.4% in the 4th quarter. XTX Topco Ltd now owns 51,877 shares of the company's stock worth $628,000 after purchasing an additional 27,224 shares in the last quarter. Barclays PLC raised its holdings in shares of EverCommerce by 5.1% in the 4th quarter. Barclays PLC now owns 22,854 shares of the company's stock worth $277,000 after purchasing an additional 1,101 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of EverCommerce by 76.8% in the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock worth $198,000 after purchasing an additional 7,085 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of EverCommerce in the 4th quarter worth approximately $177,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of EverCommerce by 111.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company's stock worth $749,000 after purchasing an additional 34,979 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Company Profile

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.

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