EverCommerce (NASDAQ:EVCM) Shares Gap Up – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM) shares gapped up before the market opened on Monday . The stock had previously closed at $11.55, but opened at $12.08. EverCommerce shares last traded at $12.1850, with a volume of 1,876 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EVCM shares. Weiss Ratings raised shares of EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, March 13th. Canaccord Genuity Group reduced their target price on shares of EverCommerce from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Wall Street Zen raised shares of EverCommerce from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Oppenheimer restated an “outperform” rating on shares of EverCommerce in a research report on Friday, March 13th. Finally, Royal Bank Of Canada dropped their price target on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.71.

EverCommerce Stock Up 0.1%

The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 110.20, a P/E/G ratio of 2.43 and a beta of 0.94. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $11.45 and its 200-day moving average price is $11.10.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $151.15 million during the quarter, compared to analyst estimates of $150.06 million. EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. On average, sell-side analysts expect that EverCommerce Inc. will post 0.23 earnings per share for the current year.

Insider Activity

In related news, CEO Eric Richard Remer sold 19,200 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $11.43, for a total transaction of $219,456.00. Following the transaction, the chief executive officer owned 2,592,997 shares in the company, valued at $29,637,955.71. The trade was a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 301,745 shares of company stock worth $3,398,144. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of EverCommerce by 5.1% during the 4th quarter. Barclays PLC now owns 22,854 shares of the company’s stock valued at $277,000 after acquiring an additional 1,101 shares during the period. Prudential Financial Inc. raised its position in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after purchasing an additional 1,190 shares during the period. Federated Hermes Inc. raised its position in shares of EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after purchasing an additional 1,667 shares during the period. American Century Companies Inc. raised its position in shares of EverCommerce by 19.8% during the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock worth $290,000 after purchasing an additional 4,576 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of EverCommerce by 76.8% during the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock worth $198,000 after purchasing an additional 7,085 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.