EverCommerce (NASDAQ:EVCM) Share Price Breaks Below 50 Day Moving Average - Time to Sell?

Key Points

• EverCommerce fell below its 50-day moving average: Shares traded as low as $8.08 and last changed hands at $8.35, below the $8.61 average; the 200-day average stood at $10.31.
• Analyst sentiment is mixed: The stock carries an overall “Hold” rating and an average price target of $11.00, with three Buy, five Hold, and two Sell ratings.
• Latest quarterly results missed earnings expectations: EverCommerce reported EPS of $0.05 versus the $0.15 consensus and revenue of $152.02 million versus $152.29 million, though revenue rose 2.7% year over year.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $8.61 and traded as low as $8.08. EverCommerce shares last traded at $8.35, with a volume of 73,362 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EVCM shares. Wall Street Zen cut EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 26th. Weiss Ratings raised EverCommerce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, September 24th. Barclays increased their target price on EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada decreased their target price on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $11.00.

EverCommerce Price Performance

The firm has a market capitalization of $1.48 billion, a P/E ratio of 46.39, a P/E/G ratio of 0.84 and a beta of 0.63. The stock's 50 day simple moving average is $8.61 and its 200 day simple moving average is $10.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). The company had revenue of $152.02 million for the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, Director Eric Remer sold 47,353 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total transaction of $390,188.72. Following the transaction, the director directly owned 5,022,792 shares in the company, valued at $41,387,806.08. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 436,327 shares of company stock worth $4,120,251. Company insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of EverCommerce during the second quarter valued at $10,724,000. CoreCap Advisors LLC bought a new stake in shares of EverCommerce in the second quarter valued at about $2,716,000. Black Diamond Financial LLC purchased a new stake in EverCommerce in the third quarter worth about $2,464,000. Quantinno Capital Management LP lifted its stake in EverCommerce by 117.7% in the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company's stock worth $552,000 after acquiring an additional 26,109 shares during the period. Finally, Bank of America Corp DE lifted its stake in EverCommerce by 202.9% in the first quarter. Bank of America Corp DE now owns 47,848 shares of the company's stock worth $547,000 after acquiring an additional 32,053 shares during the period. Institutional investors own 97.91% of the company's stock.

EverCommerce Company Profile

EverCommerce, Inc is a software and technology company that provides integrated, cloud-based solutions for service-oriented small and midsize businesses. Its platforms are designed to help businesses manage operations, customer relationships, payments, marketing and other administrative functions through specialized applications tailored to specific industries.

The company serves a broad range of vertical markets, including home and field services, health and wellness, fitness, education, professional services and other appointment- or membership-based businesses.

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