EverCommerce (NASDAQ:EVCM) Stock Jumps 4.6% - Should You Buy?

Key Points

• EverCommerce shares rose 4.6% to about $9.56, though trading volume was 75% below the average daily level.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with an average price target of $11.00; recent target changes ranged from $10.00 to $10.00, while ratings included Buy, Hold, and Sell.
• The company’s latest quarterly results were weaker than expected, with EPS of $0.05 versus the $0.15 consensus estimate, although revenue increased 2.7% year over year to $152.02 million. Insiders sold shares recently, while institutional investors own 97.91% of the stock.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s stock price traded up 4.6% during trading on Monday. The stock traded as high as $9.52 and last traded at $9.5640. Approximately 37,818 shares were traded during trading, a decline of 75% from the average daily volume of 148,700 shares. The stock had previously closed at $9.14.

Analysts Set New Price Targets

Several research analysts recently commented on EVCM shares. Weiss Ratings raised EverCommerce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, September 24th. Wall Street Zen lowered shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 26th. Royal Bank Of Canada dropped their price objective on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Thursday, August 6th. Finally, Barclays raised their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a 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 issued a Sell rating to the stock. According to data from MarketBeat, EverCommerce has a consensus rating of "Hold" and a consensus price target of $11.00.

EverCommerce Stock Performance

The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 0.89 and a beta of 0.75. The stock has a fifty day moving average price of $8.96 and a 200-day moving average price of $10.12.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly 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). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The company had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. During the same period in the prior year, the firm earned $0.04 EPS. EverCommerce's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eric Remer sold 47,353 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total value of $390,188.72. Following the sale, the director owned 5,022,792 shares of the company's stock, valued at approximately $41,387,806.08. This represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 526,027 shares of company stock worth $5,161,280 over the last three months. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP grew its stake in EverCommerce by 16.7% during the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company's stock worth $209,000 after buying an additional 2,982 shares during the last quarter. Bank of America Corp DE bought a new position in shares of EverCommerce in the second quarter valued at approximately $125,000. Deutsche Bank AG bought a new position in shares of EverCommerce in the second quarter valued at approximately $144,000. Quantinno Capital Management LP raised its stake in shares of EverCommerce by 117.7% in the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company's stock valued at $552,000 after acquiring an additional 26,109 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of EverCommerce in the 2nd quarter worth approximately $324,000. Institutional investors and hedge funds own 97.91% of the company's stock.

About EverCommerce

EverCommerce, Inc is a Denver-based provider of integrated software and payment solutions for service-oriented small and medium-sized businesses. The company develops and operates vertical-market software designed to help businesses manage customer relationships, scheduling, communications, billing, payments, marketing and other administrative functions.

Its solutions serve a range of industries, including health services, home and field services, fitness and wellness, and other professional services.

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