EverCommerce (NASDAQ:EVCM) Trading Down 6.6% - Time to Sell?

Key Points

• EverCommerce shares fell 6.6% to about $11.20 on Thursday, trading as low as $11.22 on an extremely light volume of 5,043 shares (roughly a 96% drop from average session volume).
• Wall Street's consensus rating is Hold (2 Buys, 6 Holds, 2 Sells) with a consensus price target of $10.71—below the current price—after several recent analyst downgrades and a price-target cut.
• The company posted an EPS miss ($0.03 vs. $0.04 expected) while revenue slightly beat and grew 5.2% year-over-year; the stock trades at a high P/E of 127.35 and insiders have been net sellers (301,745 shares sold over 90 days).

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s stock price fell 6.6% on Thursday . The stock traded as low as $11.22 and last traded at $11.1950. 5,043 shares were traded during trading, a decline of 96% from the average session volume of 140,228 shares. The stock had previously closed at $11.99.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Oppenheimer restated an "outperform" rating on shares of EverCommerce in a research report on Friday, March 13th. Citizens Jmp lowered shares of EverCommerce from an "outperform" rating to a "market perform" rating in a research report on Friday, March 13th. Canaccord Genuity Group lowered their price objective 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. Raymond James Financial cut EverCommerce from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings upgraded EverCommerce from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $10.71.

EverCommerce Stock Down 1.1%

The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.04 billion, a PE ratio of 127.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.01. The stock has a fifty day simple moving average of $11.40 and a two-hundred day simple moving average of $11.10.

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

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 19,200 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $11.43, for a total transaction of $219,456.00. Following the completion of the transaction, the chief executive officer owned 2,592,997 shares of the company's stock, valued at approximately $29,637,955.71. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 301,745 shares of company stock worth $3,374,848 over the last ninety days. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EVCM. Federated Hermes Inc. boosted its stake in EverCommerce by 118.3% in the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company's stock worth $34,000 after buying an additional 1,667 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in EverCommerce in the third quarter worth approximately $91,000. R Squared Ltd purchased a new stake in EverCommerce in the third quarter worth approximately $122,000. Prudential Financial Inc. boosted its stake in EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after buying an additional 1,190 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in EverCommerce in the fourth quarter worth approximately $177,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

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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