EverCommerce (NASDAQ:EVCM) Shares Gap Down on Disappointing Earnings

EverCommerce Inc. (NASDAQ:EVCM) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $8.95, but opened at $8.38. EverCommerce shares last traded at $9.47, with a volume of 72,767 shares trading hands.

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 the consensus estimate of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.12) earnings per share.

Analysts Set New Price Targets

Separately, Oppenheimer lowered their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, EverCommerce presently has an average rating of “Moderate Buy” and an average price target of $12.44.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 9,404 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.06, for a total value of $85,200.24. Following the completion of the sale, the chief executive officer now directly owns 7,707,226 shares of the company’s stock, valued at approximately $69,827,467.56. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew David Feierstein sold 5,513 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $10.07, for a total transaction of $55,515.91. Following the completion of the sale, the president now owns 2,187,695 shares in the company, valued at approximately $22,030,088.65. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,748 shares of company stock valued at $1,858,526 in the last 90 days. 11.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in shares of EverCommerce in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC raised its holdings in EverCommerce by 145.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after acquiring an additional 2,040 shares in the last quarter. Deutsche Bank AG lifted its position in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock worth $45,000 after acquiring an additional 3,667 shares during the period. Wells Fargo & Company MN grew its holdings in shares of EverCommerce by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock worth $116,000 after purchasing an additional 3,106 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of EverCommerce during the fourth quarter valued at approximately $119,000. Institutional investors own 97.91% of the company’s stock.

EverCommerce Trading Up 4.6 %

The business has a 50-day moving average price of $10.20 and a 200-day moving average price of $10.72. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.72 billion, a P/E ratio of -33.45 and a beta of 1.12.

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.