EverCommerce (NASDAQ:EVCM) Shares Down 4.1% - Time to Sell?

Key Points

• EverCommerce shares fell 4.1% to $6.75, with trading volume 71% below the daily average.
• Analysts have cut price targets, and the consensus rating is “Reduce”, with an average target of $8.42; ratings remain mixed, including Buy, Hold, and Sell recommendations.
• The latest quarter missed expectations, with EPS of $0.03 versus $0.16 forecast and revenue of $151.45 million versus $152.91 million expected, though revenue grew 2.6% year over year.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s stock price was down 4.1% during trading on Wednesday. The stock traded as low as $6.79 and last traded at $6.75. 41,577 shares traded hands during trading, a decline of 71% from the average daily volume of 143,009 shares. The stock had previously closed at $7.04.

Analyst Ratings Changes

Several equities research analysts have commented on EVCM shares. Royal Bank Of Canada dropped their price target on shares of EverCommerce from $10.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Friday, November 6th. Canaccord Genuity Group lowered their price objective on shares of EverCommerce from $13.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, November 6th. Oppenheimer dropped their target price on shares of EverCommerce from $13.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, November 6th. Wall Street Zen raised shares of EverCommerce from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft cut shares of EverCommerce from a "buy" rating to a "hold" rating and reduced their target price for the stock from $12.00 to $7.00 in a report on Friday, November 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, EverCommerce has a consensus rating of "Reduce" and an average price target of $8.42.

EverCommerce Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.13 and a current ratio of 2.13. The company has a 50-day moving average price of $8.51 and a 200-day moving average price of $10.20. The firm has a market capitalization of $1.16 billion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.63.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.13). EverCommerce had a return on equity of 4.00% and a net margin of 4.81%. The business had revenue of $151.45 million for the quarter, compared to analyst estimates of $152.91 million. During the same period last year, the firm earned ($0.03) EPS. EverCommerce's quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Insider Activity

In related news, Director Eric Remer sold 47,353 shares of the stock in a transaction on Tuesday, September 1st. The shares were 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 of the company's stock, valued at $41,387,806.08. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 381,273 shares of company stock worth $3,574,713. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently modified their holdings of the company. Edgestream Partners L.P. purchased a new stake in shares of EverCommerce in the third quarter valued at about $153,000. Ethic Inc. bought a new stake in EverCommerce in the 3rd quarter worth about $88,000. Black Diamond Financial LLC bought a new stake in EverCommerce in the 3rd quarter worth about $2,464,000. Engineers Gate Manager LP increased its stake in EverCommerce by 16.7% in the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company's stock valued at $209,000 after buying an additional 2,982 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in EverCommerce in the 2nd quarter valued at about $125,000. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Company Profile

EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.

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