EverCommerce (NASDAQ:EVCM) Shares Gap Down – Here’s Why

EverCommerce Inc. (NASDAQ:EVCM) gapped down before the market opened on Monday . The stock had previously closed at $12.15, but opened at $11.86. EverCommerce shares last traded at $12.17, with a volume of 45,983 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EVCM. Deutsche Bank Aktiengesellschaft lifted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Piper Sandler raised their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer lifted their target price on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Evercore ISI boosted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, EverCommerce currently has an average rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market cap of $2.24 billion, a PE ratio of -43.21 and a beta of 1.07. The company has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $10.68.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company’s revenue was up .9% compared to the same quarter last year. Analysts expect that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total value of $75,888.31. Following the completion of the transaction, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 130,708 shares of company stock worth $1,436,159 in the last quarter. Company insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after purchasing an additional 22,360 shares in the last quarter. State Street Corp grew its stake in shares of EverCommerce by 2.4% in the 3rd 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. Janus Henderson Group PLC increased its holdings in shares of EverCommerce by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after buying an additional 3,837 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of EverCommerce during the 3rd quarter valued at about $536,000. Finally, RIA Advisory Group LLC bought a new position in shares of EverCommerce in the 3rd quarter valued at about $241,000. Institutional investors own 97.91% of the company’s stock.

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.