EverCommerce (NASDAQ:EVCM) Announces Earnings Results

EverCommerce (NASDAQ:EVCM - Get Free Report) posted its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Briefing.com reports. The company had revenue of $170.10 million for the quarter, compared to analysts' expectations of $162.11 million. EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. The company's revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. EverCommerce updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

EverCommerce Trading Up 4.1 %

Shares of EVCM traded up $0.40 during mid-day trading on Friday, reaching $10.09. The company's stock had a trading volume of 224,000 shares, compared to its average volume of 137,856. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.88 billion, a PE ratio of -44.13 and a beta of 1.05. The company's fifty day moving average price is $9.20 and its two-hundred day moving average price is $9.57. EverCommerce has a 52 week low of $6.22 and a 52 week high of $12.67.

Analysts Set New Price Targets

EVCM has been the subject of several analyst reports. Piper Sandler restated a "neutral" rating and issued a $10.00 target price on shares of EverCommerce in a research note on Friday, March 15th. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $10.00 target price (down from $11.00) on shares of EverCommerce in a research note on Friday, March 15th. Barclays reduced their price target on shares of EverCommerce from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Friday, March 15th. Finally, Royal Bank of Canada dropped their price objective on EverCommerce from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.40.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 4,016 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $9.00, for a total transaction of $36,144.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,061 shares in the company, valued at approximately $11,628,549. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 22,345 shares of company stock worth $209,568 over the last three months. Company insiders own 11.50% of the company's stock.

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.

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