EverCommerce (NASDAQ:EVCM) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

EverCommerce (NASDAQ:EVCM) issued its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Briefing.com reports. The business had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The firm’s revenue was up .9% compared to the same quarter last year. EverCommerce updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

EverCommerce Price Performance

NASDAQ EVCM opened at $11.98 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. The stock’s 50-day moving average is $10.59 and its two-hundred day moving average is $10.51. The firm has a market cap of $2.21 billion, a P/E ratio of -52.09 and a beta of 1.07. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 7,099 shares of EverCommerce stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $10.69, for a total value of $75,888.31. Following the transaction, the chief executive officer now directly owns 8,124,163 shares in the company, valued at approximately $86,847,302.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 89,310 shares of company stock worth $965,566. Company insiders own 11.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on EVCM shares. Evercore ISI raised their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Piper Sandler increased their price objective on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.44.

About EverCommerce

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.