EverCommerce (NASDAQ:EVCM) Shares Gap Up – Here’s What Happened

EverCommerce Inc. (NASDAQ:EVCM) shares gapped up before the market opened on Monday . The stock had previously closed at $10.12, but opened at $10.47. EverCommerce shares last traded at $10.29, with a volume of 37,956 shares.

Wall Street Analyst Weigh In

EVCM has been the subject of a number of research analyst reports. Barclays decreased their target price on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Piper Sandler reduced their target price on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group decreased their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 14th. Oppenheimer dropped their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Royal Bank of Canada cut their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Two equities research 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, EverCommerce currently has a consensus rating of “Hold” and an average target price of $11.09.

EverCommerce Trading Up 0.7 %

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 business’s 50-day simple moving average is $10.14 and its two-hundred day simple moving average is $10.70. The company has a market capitalization of $1.87 billion, a PE ratio of -36.37 and a beta of 1.12.

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

Insider Buying and Selling at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 10,117 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the sale, the chief executive officer now directly owns 7,686,872 shares of the company’s stock, valued at $69,566,191.60. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Matthew David Feierstein sold 20,401 shares of EverCommerce stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 239,363 shares of company stock worth $2,439,272 over the last ninety days. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in EverCommerce in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its holdings in shares of EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after acquiring an additional 2,040 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock valued at $45,000 after acquiring an additional 3,667 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after acquiring an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in EverCommerce in the fourth quarter worth approximately $119,000. 97.91% of the stock is currently owned by institutional investors.

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.