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

EverCommerce (NASDAQ:EVCM) announced its earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04), Briefing.com reports. EverCommerce had a negative return on equity of 6.49% and a negative net margin of 7.53%. The firm had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The business’s quarterly 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 Stock Performance

NASDAQ:EVCM opened at $11.14 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -39.78 and a beta of 1.07. The firm’s fifty day simple moving average is $10.60 and its 200 day simple moving average is $10.51. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35.

Wall Street Analysts Forecast Growth

EVCM has been the topic of a number of analyst reports. Piper Sandler raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Oppenheimer lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays lifted their price target on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, EverCommerce presently has an average rating of “Moderate Buy” and an average price target of $12.56.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 18,142 shares of EverCommerce stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.73, for a total transaction of $212,805.66. Following the transaction, the chief executive officer now owns 8,005,806 shares in the company, valued at approximately $93,908,104.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 89,310 shares of company stock worth $965,566. 11.60% of the stock is currently owned by corporate insiders.

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.