EverCommerce (NASDAQ:EVCM) Shares Down 6.9% – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM) shares were down 6.9% during mid-day trading on Tuesday . The stock traded as low as $11.14 and last traded at $11.2740. Approximately 25,308 shares traded hands during trading, a decline of 83% from the average daily volume of 148,934 shares. The stock had previously closed at $12.11.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EVCM shares. The Goldman Sachs Group decreased their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 13th. Oppenheimer reaffirmed an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. Wall Street Zen raised EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Citizens Jmp downgraded EverCommerce from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Finally, Raymond James Financial downgraded EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.71.

EverCommerce Trading Down 2.0%

The stock has a market cap of $1.99 billion, a PE ratio of 125.35, a PEG ratio of 2.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a fifty day moving average price of $11.07 and a 200 day moving average price of $11.04.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $151.15 million during the quarter, compared to analysts’ expectations of $150.06 million. EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.EverCommerce’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) EPS. Equities analysts expect that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 19,200 shares of EverCommerce stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $11.43, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer owned 2,592,997 shares in the company, valued at approximately $29,637,955.71. The trade was a 0.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 301,745 shares of company stock valued at $3,393,906. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently modified their holdings of EVCM. Federated Hermes Inc. boosted its holdings in EverCommerce by 118.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after acquiring an additional 1,667 shares during the period. State of Alaska Department of Revenue purchased a new position in EverCommerce during the 3rd quarter valued at $91,000. R Squared Ltd purchased a new position in EverCommerce during the 3rd quarter valued at $122,000. Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Finally, Oxford Asset Management LLP purchased a new position in EverCommerce during the 2nd quarter valued at $168,000. Hedge funds and other 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.