EverCommerce (NASDAQ:EVCM) Issues Quarterly Earnings Results

EverCommerce (NASDAQ:EVCM) posted its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05), Briefing.com reports. The company had revenue of $175.00 million during 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%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share.

EverCommerce Stock Performance

NASDAQ EVCM traded down $0.23 on Thursday, reaching $8.95. 252,611 shares of the company’s stock traded hands, compared to its average volume of 136,790. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a 50 day moving average price of $10.24 and a 200-day moving average price of $10.73. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -31.96 and a beta of 1.12.

Insider Activity

In related news, President Matthew David Feierstein sold 5,513 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $10.07, for a total value of $55,515.91. Following the transaction, the president now directly owns 2,187,695 shares in the company, valued at approximately $22,030,088.65. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric Richard Remer sold 9,404 shares of EverCommerce stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.06, for a total transaction of $85,200.24. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 178,748 shares of company stock worth $1,858,526 in the last ninety days. Company insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JMP Securities raised their price objective on shares of EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Piper Sandler increased their target price on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Barclays lifted their price target on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Oppenheimer increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada increased their target price on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, EverCommerce currently has an average rating of “Moderate Buy” and an average price target of $12.56.

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.