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

EverCommerce Inc. (NASDAQ:EVCM)’s share price gapped down before the market opened on Monday . The stock had previously closed at $12.15, but opened at $11.86. EverCommerce shares last traded at $12.17, with a volume of 45,983 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on EVCM. Oppenheimer boosted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada raised their price objective on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Barclays boosted their target price on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Evercore ISI lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Piper Sandler upped their target price on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Price Performance

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 market capitalization of $2.24 billion, a PE ratio of -43.21 and a beta of 1.07. The stock’s 50 day moving average is $10.89 and its two-hundred day moving average is $10.68.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $176.26 million during the quarter, compared to analysts’ expectations of $174.87 million. The business’s revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 10,513 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.52, for a total transaction of $121,109.76. Following the transaction, the chief executive officer now directly owns 7,945,232 shares in the company, valued at $91,529,072.64. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 130,708 shares of company stock valued at $1,436,159 over the last 90 days. 11.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors have recently bought and sold shares of EVCM. Vanguard Group Inc. lifted its holdings in EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after acquiring an additional 30,481 shares during the last quarter. State Street Corp lifted its stake in EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after purchasing an additional 12,156 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in EverCommerce by 39.2% during the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after purchasing an additional 95,934 shares in the last quarter. Millennium Management LLC lifted its stake in EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after purchasing an additional 3,837 shares in the last quarter. 97.91% of the stock is 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.