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 $11.55, but opened at $11.05. EverCommerce shares last traded at $11.3970, with a volume of 24,901 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on EVCM. Royal Bank Of Canada downgraded EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a report on Monday. Zacks Research cut shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Lake Street Capital set a $11.00 price target on shares of EverCommerce in a research report on Tuesday, October 14th. Barclays lowered their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, EverCommerce has a consensus rating of “Reduce” and an average target price of $11.00.

EverCommerce Price Performance

The company has a market cap of $2.12 billion, a price-to-earnings ratio of -1,183.82, a P/E/G ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 2.02. The company’s 50-day simple moving average is $10.48 and its 200-day simple moving average is $10.86.

Insider Buying and Selling

In other EverCommerce news, President Matthew David Feierstein sold 25,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $11.38, for a total value of $284,500.00. Following the transaction, the president directly owned 2,148,295 shares of the company’s stock, valued at $24,447,597.10. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 32,706 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $9.87, for a total transaction of $322,808.22. Following the transaction, the chief executive officer owned 2,833,139 shares in the company, valued at approximately $27,963,081.93. This trade represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 315,503 shares of company stock worth $3,457,117 in the last quarter. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Several large investors have recently made changes to their positions in EVCM. Woodline Partners LP boosted its stake in EverCommerce by 4.7% in the 1st quarter. Woodline Partners LP now owns 560,506 shares of the company’s stock valued at $5,650,000 after buying an additional 25,412 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in EverCommerce in the second quarter valued at about $5,039,000. Los Angeles Capital Management LLC grew its stake in EverCommerce by 136.9% during the second quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock worth $862,000 after buying an additional 47,470 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after purchasing an additional 11,996 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in EverCommerce by 19.8% in 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. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.