EverCommerce (NASDAQ:EVCM) Shares Gap Up – Here’s Why

EverCommerce Inc. (NASDAQ:EVCM)’s share price gapped up prior to trading on Monday . The stock had previously closed at $10.12, but opened at $10.47. EverCommerce shares last traded at $10.29, with a volume of 37,956 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EVCM shares. Jefferies Financial Group lowered their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, March 14th. Barclays dropped their target price on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Piper Sandler cut their price objective on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group dropped their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 14th. Finally, Royal Bank of Canada lowered their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, EverCommerce has an average rating of “Hold” and a consensus price target of $11.09.

EverCommerce Stock Performance

The firm has a market cap of $1.87 billion, a P/E ratio of -36.37 and a beta of 1.12. 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 firm’s fifty day moving average price is $10.14 and its 200 day moving average price is $10.70.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. During the same period last year, the business posted ($0.12) EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts expect that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the completion of the sale, the president now owns 2,217,294 shares of the company’s stock, valued at $23,968,948.14. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Richard Remer sold 7,164 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $10.51, for a total transaction of $75,293.64. Following the completion of the sale, the chief executive officer now owns 7,621,070 shares of the company’s stock, valued at $80,097,445.70. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,363 shares of company stock valued at $2,439,272. 11.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in shares of EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after buying an additional 110,183 shares during the period. Woodline Partners LP raised its position in EverCommerce by 24.8% in the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after purchasing an additional 106,359 shares during the period. JPMorgan Chase & Co. raised its position in EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after purchasing an additional 63,139 shares during the period. Raymond James Financial Inc. purchased a new position in shares of EverCommerce during the 4th quarter worth $694,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in EverCommerce by 84.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock valued at $1,468,000 after buying an additional 61,144 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.