EverCommerce (NASDAQ:EVCM) Shares Gap Up - Time to Buy?

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.75, but opened at $10.20. EverCommerce shares last traded at $9.89, with a volume of 4,819 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EVCM shares. The Goldman Sachs Group lowered their target price on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 14th. Piper Sandler lowered their price objective on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Oppenheimer cut their target price on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Jefferies Financial Group lowered their price target on EverCommerce from $12.00 to $10.00 and set a "hold" rating on the stock in a report on Friday, March 14th. Finally, Barclays cut their price objective on EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.09.

EverCommerce Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The company's 50-day moving average price is $9.94 and its 200 day moving average price is $10.63. The stock has a market capitalization of $1.92 billion, a P/E ratio of -37.36 and a beta of 1.06.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business had revenue of $175.00 million during the quarter, compared to analysts' expectations of $170.48 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. EverCommerce's revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that EverCommerce Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 10,117 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total transaction of $91,558.85. Following the completion of the transaction, the chief executive officer now directly owns 7,686,872 shares of the company's stock, valued at approximately $69,566,191.60. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew David Feierstein sold 21,624 shares of EverCommerce stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.13, for a total value of $219,051.12. Following the completion of the sale, the president now directly owns 2,370,628 shares in the company, valued at approximately $24,014,461.64. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,071 shares of company stock worth $2,756,407. 11.60% of the stock is owned by insiders.

Institutional Trading of EverCommerce

Several hedge funds have recently made changes to their positions in EVCM. BNP Paribas Financial Markets bought a new stake in EverCommerce during the fourth quarter worth approximately $29,000. Tower Research Capital LLC TRC boosted its holdings in shares of EverCommerce by 145.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock worth $38,000 after purchasing an additional 2,040 shares during the period. Deutsche Bank AG increased its position in shares of EverCommerce by 919.0% during the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after purchasing an additional 3,667 shares during the last quarter. GAMMA Investing LLC lifted its position in EverCommerce by 838.8% in the first quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after buying an additional 6,358 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after buying an additional 3,106 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.