EverCommerce (NASDAQ:EVCM) Shares Gap Down – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.43, but opened at $10.15. EverCommerce shares last traded at $10.32, with a volume of 5,183 shares.

Analyst Ratings Changes

Several analysts have recently commented on EVCM shares. Royal Bank of Canada lowered their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Piper Sandler dropped their price target on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Oppenheimer cut their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Barclays decreased their price objective on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Finally, The Goldman Sachs Group cut their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.09.

EverCommerce Stock Performance

The company’s fifty day moving average price is $10.14 and its two-hundred day moving average price is $10.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market capitalization of $1.94 billion, a PE ratio of -37.71 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. As a group, equities analysts expect that EverCommerce Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 13,552 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.97, for a total value of $135,113.44. Following the completion of the sale, the chief executive officer now directly owns 7,646,915 shares in the company, valued at approximately $76,239,742.55. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the transaction, the president now owns 2,217,294 shares in the company, valued at approximately $23,968,948.14. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,833 shares of company stock worth $2,265,542 in the last three months. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Large investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after acquiring an additional 22,360 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in EverCommerce by 161.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after purchasing an additional 63,139 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of EverCommerce in the 3rd quarter valued at approximately $536,000. Janus Henderson Group PLC boosted its stake in shares of EverCommerce by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after buying an additional 3,837 shares during the last quarter. Finally, State Street Corp grew its position in shares of EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after buying an additional 12,156 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.