EverCommerce (NASDAQ:EVCM) Announces Quarterly Earnings Results

EverCommerce (NASDAQ:EVCM) released its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Briefing.com reports. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.49%. The company had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. The business’s revenue was up .9% compared to the same quarter last year. EverCommerce updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

EverCommerce Trading Down 7.0 %

Shares of EverCommerce stock opened at $11.14 on Thursday. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.05 billion, a PE ratio of -39.78 and a beta of 1.07. The company has a 50-day moving average of $10.60 and a two-hundred day moving average of $10.51.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 5,436 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 89,310 shares of company stock valued at $965,566. Corporate insiders own 11.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EVCM shares. Piper Sandler upped their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research note 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 research note on Wednesday, August 7th. Oppenheimer increased their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, JMP Securities increased their target price on shares of EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.