EverCommerce (NASDAQ:EVCM) Stock Price Down 6.3% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM) fell 6.3% during mid-day trading on Tuesday . The stock traded as low as $8.40 and last traded at $8.3150. 78,804 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 144,909 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Canaccord Genuity Group raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a research note on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

EverCommerce Price Performance

The firm has a fifty day moving average of $10.47 and a 200 day moving average of $10.68. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.44 billion, a P/E ratio of 45.22, a P/E/G ratio of 0.90 and a beta of 0.91.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The business had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. On average, equities research analysts anticipate that EverCommerce Inc. will post 0.52 EPS for the current year.

Insider Activity at EverCommerce

In other news, Director Eric Richard Remer sold 29,119 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $10.01, for a total transaction of $291,481.19. Following the completion of the transaction, the director owned 5,482,246 shares in the company, valued at $54,877,282.46. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 520,147 shares of company stock valued at $5,271,942 over the last quarter. 10.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in EverCommerce by 149.3% in the second quarter. California State Teachers Retirement System now owns 1,982 shares of the company’s stock worth $197,000 after purchasing an additional 1,187 shares during the last quarter. Bank of America Corp DE purchased a new position in EverCommerce during the 2nd quarter valued at $125,000. BlackRock Inc. bought a new position in EverCommerce in the 2nd quarter valued at $10,724,000. Deutsche Bank AG purchased a new stake in EverCommerce in the second quarter worth $144,000. Finally, Bank of New York Mellon Corp purchased a new stake in EverCommerce in the second quarter worth $324,000. Institutional investors 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.