EverCommerce (NASDAQ:EVCM) Stock Price Down 12.6% - Should You Sell?

Key Points

• EverCommerce shares fell 12.6% on Tuesday, trading as low as $10.69 and well below the prior close, with volume far under its average session level.
• The company’s latest earnings came in mixed: EPS missed expectations at $0.04 versus $0.14 expected, while revenue of $147.47 million was roughly in line and up 3.7% year over year.
• Wall Street remains cautious overall, with a consensus Hold rating and average price target of $11.25; insiders also sold shares recently, including the president and CEO under pre-arranged trading plans.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) shares fell 12.6% on Tuesday . The stock traded as low as $10.69 and last traded at $10.4650. 9,120 shares traded hands during trading, a decline of 93% from the average session volume of 138,446 shares. The stock had previously closed at $11.97.

Wall Street Analysts Forecast Growth

EVCM has been the subject of a number of research analyst reports. Oppenheimer restated an "outperform" rating on shares of EverCommerce in a research report on Friday, March 13th. Royal Bank Of Canada decreased their price target on shares of EverCommerce from $12.00 to $11.00 and set a "sector perform" rating on the stock in a research note on Friday, March 13th. Citizens Jmp cut shares of EverCommerce from an "outperform" rating to a "market perform" rating in a research report on Friday, March 13th. Canaccord Genuity Group boosted their price objective on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Weiss Ratings raised EverCommerce from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, March 13th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, EverCommerce presently has a consensus rating of "Hold" and a consensus target price of $11.25.

EverCommerce Stock Down 4.5%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.11 and a current ratio of 2.11. The company's fifty day moving average price is $11.51 and its 200-day moving average price is $11.11. The stock has a market cap of $1.86 billion, a P/E ratio of 61.80, a price-to-earnings-growth ratio of 2.64 and a beta of 0.94.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). The firm had revenue of $147.47 million during the quarter, compared to analysts' expectations of $147.18 million. EverCommerce had a return on equity of 3.35% and a net margin of 5.47%.The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. Equities analysts forecast that EverCommerce Inc. will post 0.23 EPS for the current year.

Insider Buying and Selling

In other news, President Matthew David Feierstein sold 5,000 shares of EverCommerce stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $10.83, for a total transaction of $54,150.00. Following the completion of the sale, the president directly owned 2,120,606 shares in the company, valued at approximately $22,966,162.98. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 7,208 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $10.72, for a total transaction of $77,269.76. Following the sale, the chief executive officer directly owned 2,895,723 shares of the company's stock, valued at $31,042,150.56. This represents a 0.25% 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 315,102 shares of company stock valued at $3,550,205 over the last three months. 10.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds have recently added to or reduced their stakes in EVCM. Tudor Investment Corp ET AL increased its position in shares of EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company's stock worth $1,397,000 after acquiring an additional 83,794 shares during the period. Goldman Sachs Group Inc. grew its stake in EverCommerce by 94.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company's stock worth $1,266,000 after purchasing an additional 50,854 shares in the last quarter. Lazard Asset Management LLC increased its holdings in EverCommerce by 5,995.2% during the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company's stock worth $523,000 after purchasing an additional 49,041 shares during the period. Zacks Investment Management bought a new stake in EverCommerce during the 3rd quarter valued at $418,000. Finally, Los Angeles Capital Management LLC raised its position in EverCommerce by 111.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company's stock valued at $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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