EverCommerce (NASDAQ:EVCM) Shares Gap Down After Earnings Miss

EverCommerce Inc. (NASDAQ:EVCM) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $8.95, but opened at $8.38. EverCommerce shares last traded at $9.47, with a volume of 72,767 shares trading hands.

The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EVCM shares. The Goldman Sachs Group cut their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday. Jefferies Financial Group cut their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday. Barclays cut their price target on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday. Oppenheimer cut their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Royal Bank of Canada cut their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.27.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 10,117 shares of EverCommerce stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $9.05, for a total value of $91,558.85. Following the sale, the chief executive officer now owns 7,686,872 shares of the company’s stock, valued at approximately $69,566,191.60. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 2,888 shares of EverCommerce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total transaction of $28,908.88. Following the completion of the sale, the president now directly owns 2,209,807 shares in the company, valued at $22,120,168.07. This represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,865 shares of company stock valued at $1,950,085 in the last 90 days. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently added to or reduced their stakes in EVCM. Mackenzie Financial Corp purchased a new position in EverCommerce in the 4th quarter valued at $127,000. Woodline Partners LP lifted its holdings in EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after purchasing an additional 106,359 shares in the last quarter. State of Wyoming lifted its holdings in EverCommerce by 245.4% in the 4th quarter. State of Wyoming now owns 32,875 shares of the company’s stock valued at $362,000 after purchasing an additional 23,356 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in EverCommerce in the 4th quarter valued at $143,000. Finally, Janus Henderson Group PLC lifted its holdings in EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after purchasing an additional 110,183 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Stock Up 4.6 %

The business has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $10.71. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.