EverCommerce (NASDAQ:EVCM) Posts Earnings Results, Misses Expectations By $0.04 EPS

EverCommerce (NASDAQ:EVCM - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04), Briefing.com reports. The firm had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.49%. EverCommerce's revenue was up .9% on a year-over-year basis. EverCommerce updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

EverCommerce Stock Performance

EverCommerce stock traded down $0.84 during midday trading on Wednesday, hitting $11.14. The company's stock had a trading volume of 174,729 shares, compared to its average volume of 141,132. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35. The company has a 50-day moving average price of $10.59 and a two-hundred day moving average price of $10.51.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 5,436 shares of EverCommerce stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $10.09, for a total value of $54,849.24. Following the completion of the transaction, the chief executive officer now directly owns 8,100,550 shares of the company's stock, valued at $81,734,549.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 89,310 shares of company stock worth $965,566 in the last quarter. Corporate insiders own 11.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVCM. JMP Securities boosted their price target on EverCommerce from $12.00 to $15.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Piper Sandler increased their price target on EverCommerce from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday. Royal Bank of Canada raised their price target on EverCommerce from $12.00 to $14.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Wednesday, August 7th. Finally, Evercore ISI raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.56.

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.