EverCommerce (NASDAQ:EVCM) Stock Price Down 7.1% - What's Next?

Key Points

• EverCommerce shares fell 7.1% to $7.73 in light trading, well below their 50-day and 200-day moving averages of $9.53 and $10.25, respectively.
• Analyst sentiment remains mixed but centers on a “Hold” rating, with three Buy, five Hold, and two Sell ratings and an average price target of $11.00.
• The company’s latest quarter showed revenue up 2.7% year over year to $152.02 million, but adjusted EPS of $0.05 missed estimates by $0.10; insiders have also sold more than 616,000 shares over the past 90 days.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) dropped 7.1% during trading on Monday. The company traded as low as $7.46 and last traded at $7.73. Approximately 9,568 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 150,011 shares. The stock had previously closed at $8.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reduced their target price on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, August 6th. Wall Street Zen lowered EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Saturday. Weiss Ratings upgraded EverCommerce from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, Barclays boosted their price target 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 research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.00.

EverCommerce Stock Down 0.8%

The stock's fifty day moving average price is $9.53 and its 200 day moving average price is $10.25. 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 stock has a market cap of $1.42 billion, a P/E ratio of 44.56, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released 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 business 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%. EverCommerce's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. As a group, research analysts forecast that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other EverCommerce news, Director Eric Remer sold 47,353 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total value of $390,188.72. Following the sale, the director directly owned 5,022,792 shares of the company's stock, valued at approximately $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 616,031 shares of company stock worth $6,078,783 in the last ninety days. 10.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in EverCommerce during the second quarter valued at approximately $10,724,000. CoreCap Advisors LLC bought a new stake in shares of EverCommerce during the 2nd quarter valued at $2,716,000. Quantinno Capital Management LP lifted its stake in shares of EverCommerce by 117.7% during the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company's stock valued at $552,000 after buying an additional 26,109 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of EverCommerce by 202.9% during the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company's stock valued at $547,000 after buying an additional 32,053 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in EverCommerce in the 2nd quarter worth $324,000. Institutional investors own 97.91% of the company's stock.

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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