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

EverCommerce Inc. (NASDAQ:EVCM) shares gapped up prior to trading 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 trading hands.

Analysts Set New Price Targets

EVCM has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group decreased their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 14th. Piper Sandler dropped their price objective on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Royal Bank of Canada reduced their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, Oppenheimer lowered their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Two 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 company’s stock. According to MarketBeat.com, EverCommerce currently has a consensus rating of “Hold” and an average price target of $11.09.

EverCommerce Trading Up 1.6 %

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 company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -36.57 and a beta of 1.12. The business’s 50-day moving average price is $10.14 and its two-hundred day moving average price is $10.69.

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

Insider Activity

In other news, CEO Eric Richard Remer sold 10,117 shares of EverCommerce 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 transaction, the chief executive officer now owns 7,686,872 shares in the company, valued at approximately $69,566,191.60. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Matthew David Feierstein sold 20,401 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the sale, the president now owns 2,217,294 shares of the company’s stock, 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. In the last ninety days, insiders sold 239,363 shares of company stock worth $2,439,272. 11.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Woodline Partners LP lifted its stake in EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after purchasing an additional 106,359 shares during the last quarter. State Street Corp increased its holdings 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. Janus Henderson Group PLC lifted its stake in shares of EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after acquiring an additional 110,183 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of EverCommerce by 4.2% during the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock valued at $2,194,000 after acquiring an additional 7,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in EverCommerce by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after acquiring an additional 1,092 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

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.