EverCommerce (NASDAQ:EVCM) Shares Gap Down - Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.43, but opened at $10.15. EverCommerce shares last traded at $10.32, with a volume of 5,183 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on EVCM. Oppenheimer lowered their target price on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Barclays lowered their price objective on shares of EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. Royal Bank of Canada cut their target price on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. The Goldman Sachs Group decreased their price target on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 14th. Finally, Jefferies Financial Group dropped their price target on shares of EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, EverCommerce has a consensus rating of "Hold" and a consensus price target of $11.09.

EverCommerce Price Performance

The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -36.14 and a beta of 1.12. The stock's fifty day moving average price is $10.14 and its two-hundred day moving average price is $10.69. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The business had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Equities research analysts expect that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 5,117 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.39, for a total value of $53,165.63. Following the completion of the transaction, the chief executive officer now owns 7,862,366 shares in the company, valued at approximately $81,689,982.74. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Matthew David Feierstein sold 20,401 shares of the stock in a transaction on 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 transaction, the president now directly owns 2,217,294 shares in the company, valued at $23,968,948.14. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,363 shares of company stock valued at $2,439,272. Corporate insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in shares of EverCommerce during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC boosted its position in shares of EverCommerce by 145.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after purchasing an additional 2,040 shares during the period. Deutsche Bank AG grew its stake in EverCommerce by 919.0% during the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after buying an additional 3,667 shares during the last quarter. Wells Fargo & Company MN increased its position in EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after buying an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new position in EverCommerce during the fourth quarter worth approximately $119,000. 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.