EverCommerce (NASDAQ:EVCM) Shares Down 6.3% - Here's What Happened

Key Points

• EverCommerce shares fell 6.3% to $8.315, with trading volume 46% below the average session volume.
• The company’s latest quarterly earnings missed expectations, reporting $0.05 EPS versus the $0.15 consensus, while revenue of $152.02 million was roughly in line with estimates and rose 2.7% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $11.00; insider selling has totaled more than 520,000 shares over the past 90 days.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) traded down 6.3% on Tuesday . The company traded as low as $8.40 and last traded at $8.3150. 78,804 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 144,909 shares. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

EVCM has been the topic of several analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of EverCommerce in a report on Friday, August 21st. Wall Street Zen cut shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. Canaccord Genuity Group increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Finally, Royal Bank Of Canada reduced their price target on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, EverCommerce currently has a consensus rating of "Hold" and an average price target of $11.00.

EverCommerce Trading Down 8.2%

The business's fifty day moving average is $10.47 and its 200-day moving average is $10.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a market cap of $1.44 billion, a P/E ratio of 45.22, a price-to-earnings-growth ratio of 0.90 and a beta of 0.91.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The company had revenue of $152.02 million during 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 quarter in the previous year, the company earned $0.04 earnings per share. Analysts predict that EverCommerce Inc. will post 0.52 EPS for the current year.

Insider Activity

In related news, Director Eric Richard Remer sold 29,119 shares of EverCommerce stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $10.01, for a total transaction of $291,481.19. Following the transaction, the director owned 5,482,246 shares of the company's stock, valued at $54,877,282.46. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 520,147 shares of company stock worth $5,271,942 in the last ninety days. 10.10% of the stock is owned by company insiders.

Institutional Trading of EverCommerce

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in EverCommerce by 5.1% during the fourth quarter. Barclays PLC now owns 22,854 shares of the company's stock valued at $277,000 after buying an additional 1,101 shares during the period. California State Teachers Retirement System raised its stake in EverCommerce by 149.3% in the second quarter. California State Teachers Retirement System now owns 1,982 shares of the company's stock valued at $197,000 after purchasing an additional 1,187 shares in the last quarter. Prudential Financial Inc. grew its position in 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 in the last quarter. American Century Companies Inc. raised its holdings in shares of EverCommerce by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock valued at $290,000 after buying an additional 4,576 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in EverCommerce by 76.8% in the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock worth $198,000 after purchasing an additional 7,085 shares during the last quarter. 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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