EverCommerce (NASDAQ:EVCM) Stock Price Up 7.2% - What's Next?

Key Points

• EverCommerce shares rose 7.2% in midday trading, briefly reaching $10.73 before last trading around $10.90, though volume was well below average.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with a $11.25 target price, even after recent buy ratings and target increases from Deutsche Bank and Canaccord.
• The company recently missed earnings estimates on EPS but slightly beat revenue expectations, while insiders, including the CEO and president, have also been selling shares under pre-arranged trading plans.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was up 7.2% during mid-day trading on Monday . The company traded as high as $10.73 and last traded at $10.9040. 79,177 shares changed hands during trading, a decline of 44% from the average session volume of 140,874 shares. The stock had previously closed at $10.17.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EVCM shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $14.00 price objective on shares of EverCommerce in a research note on Friday, May 8th. Wall Street Zen cut EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Canaccord Genuity Group lifted their target price on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Finally, Weiss Ratings cut shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, EverCommerce currently has a consensus rating of "Hold" and a consensus target price of $11.25.

EverCommerce Stock Up 6.1%

The business's 50 day simple moving average is $9.97 and its 200 day simple moving average is $10.97. The company has a market capitalization of $1.91 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 3.37% and a net margin of 5.47%.The business's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. As a group, analysts forecast that EverCommerce Inc. will post 0.57 EPS for the current year.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 8,742 shares of EverCommerce stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $9.86, for a total transaction of $86,196.12. Following the transaction, the chief executive officer owned 5,679,451 shares in the company, valued at approximately $55,999,386.86. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Matthew David Feierstein sold 10,000 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $10.03, for a total value of $100,300.00. Following the transaction, the president directly owned 2,045,448 shares in the company, valued at $20,515,843.44. The trade was a 0.49% 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. Over the last three months, insiders have sold 316,629 shares of company stock worth $3,359,878. Company insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently made changes to their positions in EVCM. Tudor Investment Corp ET AL boosted its holdings 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 purchasing an additional 83,794 shares during the period. Oxford Asset Management LLP purchased a new position in EverCommerce during the second quarter valued at approximately $168,000. O Shaughnessy Asset Management LLC acquired a new position in EverCommerce in the 4th quarter valued at approximately $177,000. Goldman Sachs Group Inc. increased its stake in EverCommerce by 94.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company's stock valued at $1,266,000 after buying an additional 50,854 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in EverCommerce by 11.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company's stock worth $1,107,000 after buying an additional 11,996 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

About EverCommerce

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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