EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 8.5% in April

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 713,800 shares, an increase of 8.5% from the April 15th total of 657,700 shares. Based on an average trading volume of 150,600 shares, the days-to-cover ratio is currently 4.7 days. Currently, 3.9% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

EVCM has been the topic of a number of research analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $12.00 price target on shares of EverCommerce in a report on Friday, March 15th. Barclays dropped their target price on shares of EverCommerce from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Friday, March 15th. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $10.00 price objective on shares of EverCommerce in a report on Friday, March 15th. Finally, Royal Bank of Canada reduced their price objective on EverCommerce from $12.00 to $11.00 and set an "outperform" rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, EverCommerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.40.

EverCommerce Price Performance

EVCM stock traded up $0.17 during trading on Thursday, reaching $10.66. The company's stock had a trading volume of 110,402 shares, compared to its average volume of 137,952. The company's fifty day moving average is $9.27 and its 200-day moving average is $9.58. The company has a market capitalization of $1.97 billion, a P/E ratio of -49.95 and a beta of 1.05. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.62. The company has a quick ratio of 1.53, a current ratio of 1.71 and a debt-to-equity ratio of 0.66.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). EverCommerce had a negative return on equity of 4.92% and a negative net margin of 6.02%. The firm had revenue of $170.10 million during the quarter, compared to the consensus estimate of $162.11 million. During the same quarter last year, the business posted ($0.11) EPS. EverCommerce's revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that EverCommerce will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 4,016 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $9.00, for a total transaction of $36,144.00. Following the sale, the chief executive officer now owns 1,292,061 shares of the company's stock, valued at $11,628,549. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 22,345 shares of company stock valued at $209,568. 11.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company's stock worth $15,684,000 after acquiring an additional 30,481 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in EverCommerce by 42.9% in the 4th quarter. Great Lakes Advisors LLC now owns 203,863 shares of the company's stock worth $2,249,000 after purchasing an additional 61,236 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of EverCommerce by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 185,359 shares of the company's stock valued at $1,859,000 after acquiring an additional 3,831 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in EverCommerce during the 4th quarter valued at about $391,000. Finally, RIA Advisory Group LLC purchased a new stake in EverCommerce in the first quarter valued at approximately $242,000. Hedge funds and other institutional investors own 97.91% 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.