EverCommerce (NASDAQ:EVCM) Stock Price Down 3.8% - Should You Sell?

Key Points

• EverCommerce shares fell 3.8% to $7.65 on significantly below-average trading volume, with the stock well below its 50-day and 200-day moving averages.
• Analyst opinions remain mixed, resulting in a consensus “Hold” rating and an average price target of $11.00; ratings ranged from “strong buy” to “sell.”
• The company’s latest quarterly results missed expectations, with EPS of $0.05 versus $0.15 forecast, while revenue rose 2.7% year over year to $152.02 million. Insiders have sold shares recently, although institutional investors own nearly 98% of the stock.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) traded down 3.8% during trading on Thursday . The company traded as low as $7.69 and last traded at $7.65. Approximately 27,610 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 148,091 shares. The stock had previously closed at $7.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EVCM shares. Wall Street Zen raised shares of EverCommerce from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 5th. Weiss Ratings downgraded EverCommerce from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, September 9th. Barclays increased their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada dropped their target price on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, EverCommerce currently has a consensus rating of "Hold" and an average target price 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 $1.36 billion, a PE ratio of 42.31, a PEG ratio of 0.77 and a beta of 0.84. The stock's 50 day moving average price is $9.95 and its two-hundred day moving average price is $10.44.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $152.29 million. During the same period in the previous year, the company posted $0.04 EPS. EverCommerce's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other EverCommerce news, Director Eric Remer sold 47,353 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director directly owned 5,022,792 shares in the company, valued at $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 616,340 shares of company stock worth $6,082,388 over the last 90 days. Insiders own 10.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EVCM. Engineers Gate Manager LP lifted its position in shares of EverCommerce by 16.7% in the 2nd 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 acquired a new stake in EverCommerce in the second quarter worth about $125,000. BlackRock Inc. bought a new position in EverCommerce in the 2nd quarter valued at about $10,724,000. Deutsche Bank AG bought a new position in EverCommerce in the 2nd quarter valued at about $144,000. Finally, Bank of New York Mellon Corp acquired a new position in EverCommerce during the 2nd quarter valued at about $324,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

About EverCommerce

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.

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