EverCommerce (NASDAQ:EVCM) Stock Price Down 12.6% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM)’s share price fell 12.6% during trading on Tuesday . The stock traded as low as $10.69 and last traded at $10.4650. 9,120 shares were traded during trading, a decline of 93% from the average session volume of 138,446 shares. The stock had previously closed at $11.97.

Analyst Upgrades and Downgrades

EVCM has been the subject of a number of research reports. Wall Street Zen raised shares of EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Citizens Jmp cut shares of EverCommerce from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $14.00 price objective on shares of EverCommerce in a research note on Friday. Weiss Ratings raised shares of EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 13th. Finally, The Goldman Sachs Group dropped their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, EverCommerce presently has an average rating of “Hold” and an average price target of $11.25.

EverCommerce Trading Down 4.5%

The firm has a market capitalization of $1.86 billion, a PE ratio of 61.80, a price-to-earnings-growth ratio of 2.64 and a beta of 0.94. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.72. The company’s 50-day simple moving average is $11.51 and its 200 day simple moving average is $11.11.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). EverCommerce had a return on equity of 3.35% and a net margin of 5.47%.The business had revenue of $147.47 million during the quarter, compared to analyst estimates of $147.18 million. During the same period in the previous year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that EverCommerce Inc. will post 0.23 EPS for the current year.

Insider Activity

In other EverCommerce news, CEO Eric Richard Remer sold 19,200 shares of EverCommerce stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $11.43, for a total transaction of $219,456.00. Following the completion of the sale, the chief executive officer owned 2,592,997 shares of the company’s stock, valued at approximately $29,637,955.71. The trade was a 0.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 315,102 shares of company stock valued at $3,550,205. 10.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL lifted its position in EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock valued at $1,397,000 after purchasing an additional 83,794 shares during the period. Federated Hermes Inc. grew its position in EverCommerce by 118.3% during the 3rd 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. AlphaQuest LLC purchased a new position in shares of EverCommerce during the 3rd quarter valued at about $309,000. SG Americas Securities LLC acquired a new position in shares of EverCommerce in the 3rd quarter valued at about $169,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of EverCommerce by 111.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock valued at $749,000 after buying an additional 34,979 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

About EverCommerce

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.