EverCommerce (NASDAQ:EVCM) Hits New 12-Month Low – Should You Sell?

EverCommerce Inc. (NASDAQ:EVCM)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $6.63 and last traded at $6.76, with a volume of 181144 shares. The stock had previously closed at $7.18.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of EverCommerce in a research report on Friday, August 21st. Wall Street Zen upgraded shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Barclays raised their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada cut their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.00.

EverCommerce Trading Down 5.8%

The business’s 50-day moving average price is $10.23 and its 200-day moving average price is $10.56. The firm has a market capitalization of $1.19 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business had revenue of $152.02 million during the quarter, compared to analysts’ expectations of $152.29 million. During the same quarter last year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eric Remer sold 47,353 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total value of $390,188.72. Following the transaction, the director owned 5,022,792 shares in the company, valued at $41,387,806.08. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 620,984 shares of company stock worth $6,124,416 over the last 90 days. Company insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in EverCommerce by 11.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after buying an additional 11,996 shares during the period. American Century Companies Inc. raised its holdings in EverCommerce by 19.8% during the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock worth $290,000 after purchasing an additional 4,576 shares in the last quarter. Prudential Financial Inc. lifted its position in EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the period. Occudo Quantitative Strategies LP acquired a new position in EverCommerce during the 2nd quarter worth approximately $302,000. Finally, Lazard Asset Management LLC increased its position in EverCommerce by 5,995.2% during the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock worth $523,000 after purchasing an additional 49,041 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

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.