EverCommerce (NASDAQ:EVCM) Shares Gap Up - Still a Buy?

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) gapped up before the market opened 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.

Analysts Set New Price Targets

Several equities analysts have commented on EVCM shares. The Goldman Sachs Group cut their price objective on EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 14th. Piper Sandler lowered their price objective on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Oppenheimer dropped their target price on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada decreased their price target on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Finally, Barclays decreased their target price on EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $11.09.

EverCommerce Price Performance

The stock's 50-day moving average is $10.13 and its 200 day moving average is $10.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market cap of $1.76 billion, a PE ratio of -34.21 and a beta of 1.12.

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EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 6.56% and a negative net margin of 7.53%. EverCommerce's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) EPS. On average, equities analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 5,513 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $10.07, for a total value of $55,515.91. Following the sale, the president now owns 2,187,695 shares in the company, valued at $22,030,088.65. This represents a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 7,026 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.94, for a total transaction of $76,864.44. Following the completion of the transaction, the chief executive officer now owns 7,758,632 shares in the company, valued at approximately $84,879,434.08. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 268,062 shares of company stock valued at $2,710,669 in the last ninety days. Company insiders own 11.60% of the company's stock.

Institutional Trading of EverCommerce

Several large investors have recently made changes to their positions in EVCM. Edgestream Partners L.P. acquired a new position in EverCommerce during the third quarter valued at $536,000. Janus Henderson Group PLC raised its stake in shares of EverCommerce by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company's stock valued at $3,296,000 after buying an additional 3,837 shares during the last quarter. State Street Corp lifted its holdings in shares of EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company's stock valued at $5,335,000 after buying an additional 12,156 shares during the period. Barclays PLC boosted its stake in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company's stock worth $307,000 after buying an additional 22,360 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company's stock worth $1,059,000 after acquiring an additional 63,139 shares during the period. 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.