EverCommerce (NASDAQ:EVCM) Trading Down 7.4% - Should You Sell?

Key Points

• EverCommerce shares fell 7.4% on Wednesday, trading below recent levels with lighter-than-normal volume. The stock closed at $9.47 after touching a low of $9.37.
• Analyst sentiment remains mixed: EverCommerce has a consensus Hold rating and an average price target of $11.25. Recent moves included buy ratings from Deutsche Bank and Canaccord, while Goldman Sachs maintained a sell rating and cut its target to $8.
• The company’s latest earnings missed expectations, with Q1 EPS of $0.04 versus the $0.14 estimate, though revenue came in roughly in line at $147.47 million and rose 3.7% year over year. Insiders also sold shares in recent months, adding to investor caution.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s stock price was down 7.4% during trading on Wednesday . The company traded as low as $9.37 and last traded at $9.47. Approximately 34,627 shares were traded during trading, a decline of 74% from the average daily volume of 134,725 shares. The stock had previously closed at $10.23.

Analysts Set New Price Targets

A number of equities analysts recently commented on EVCM shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th. Wall Street Zen raised shares of EverCommerce from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. The Goldman Sachs Group lowered their price target on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group raised their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada lowered 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 report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, EverCommerce has a consensus rating of "Hold" and an average target price of $11.25.

EverCommerce Price Performance

The company's 50-day moving average is $11.23 and its two-hundred day moving average is $11.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $1.68 billion, a P/E ratio of 55.94, a PEG ratio of 2.39 and a beta of 0.92.

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 the consensus estimate of $0.14 by ($0.10). EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The firm had revenue of $147.47 million for the quarter, compared to the consensus estimate of $147.18 million. During the same period in the prior year, the company earned $0.01 EPS. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that EverCommerce Inc. will post 0.24 EPS for the current fiscal year.

Insider Transactions at EverCommerce

In other news, President Matthew David Feierstein sold 10,000 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $11.90, for a total value of $119,000.00. Following the completion of the transaction, the president owned 2,160,606 shares of the company's stock, valued at approximately $25,711,211.40. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 16,497 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $10.79, for a total transaction of $178,002.63. Following the completion of the transaction, the chief executive officer directly owned 2,517,220 shares of the company's stock, valued at $27,160,803.80. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 289,400 shares of company stock valued at $3,241,377 in the last three months. Company insiders own 10.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in shares of 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 acquiring an additional 1,667 shares during the last quarter. R Squared Ltd bought a new position in shares of EverCommerce in the third quarter worth about $122,000. Prudential Financial Inc. lifted its holdings in shares of 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 acquiring an additional 1,190 shares during the last quarter. Oxford Asset Management LLP bought a new position in shares of EverCommerce in the second quarter worth about $168,000. Finally, BNP Paribas Financial Markets increased its stake in shares of EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after buying an additional 13,734 shares during the period. Institutional investors 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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