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

EverCommerce Inc. (NASDAQ:EVCM)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.77, but opened at $8.29. EverCommerce shares last traded at $8.0350, with a volume of 1,506 shares.

Wall Street Analysts Forecast Growth

EVCM has been the subject of several research reports. Royal Bank Of Canada reduced their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Thursday, August 6th. Weiss Ratings lowered EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Wall Street Zen raised shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Finally, Barclays upped their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

EverCommerce Stock Down 5.5%

The stock has a fifty day moving average of $9.80 and a 200 day moving average of $10.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The firm has a market capitalization of $1.38 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. During the same period in the prior year, the business earned $0.04 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, Director Eric Remer sold 6,354 shares of EverCommerce stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total value of $51,276.78. Following the sale, the director owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 616,031 shares of company stock worth $6,078,783. Company insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in shares of EverCommerce during the 2nd quarter valued at $125,000. Deutsche Bank AG bought a new position in shares of EverCommerce in the second quarter valued at approximately $144,000. Engineers Gate Manager LP grew its stake in EverCommerce by 16.7% during the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after acquiring an additional 2,982 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in EverCommerce in the 2nd quarter worth approximately $324,000. Finally, Quantinno Capital Management LP boosted its holdings in EverCommerce by 117.7% in the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock valued at $552,000 after purchasing an additional 26,109 shares during the period. 97.91% of the stock is owned by institutional investors.

About EverCommerce

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.