EverCommerce (NASDAQ:EVCM) Shares Gap Down – Should You Sell?

EverCommerce Inc. (NASDAQ:EVCM)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $10.43, but opened at $10.15. EverCommerce shares last traded at $10.32, with a volume of 5,183 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EVCM. Oppenheimer decreased their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Jefferies Financial Group lowered their price objective on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Barclays reduced their target price on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group lowered their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 14th. Finally, Royal Bank of Canada reduced their price objective on shares of EverCommerce from $14.00 to $11.00 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 given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.09.

EverCommerce Trading Up 0.2 %

The company has a 50 day simple moving average of $10.13 and a 200 day simple moving average of $10.69. The stock has a market capitalization of $1.92 billion, a PE ratio of -37.32 and a beta of 1.12. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results 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). The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. EverCommerce’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) earnings per share. Analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total transaction of $28,908.88. Following the sale, the president now directly owns 2,209,807 shares in the company, valued at approximately $22,120,168.07. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 7,026 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.94, for a total transaction of $76,864.44. Following the completion of the transaction, the chief executive officer now owns 7,758,632 shares of the company’s stock, valued at $84,879,434.08. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,833 shares of company stock worth $2,265,542 over the last 90 days. Company insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

A number of institutional investors have recently bought and sold shares of the company. Woodline Partners LP grew 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 acquiring an additional 106,359 shares during the last quarter. State Street Corp increased its stake in shares of EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after acquiring an additional 12,156 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after acquiring an additional 110,183 shares during the period. Northern Trust Corp boosted its position in shares of EverCommerce by 4.2% in the fourth quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock worth $2,194,000 after acquiring an additional 7,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in EverCommerce by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.