EverCommerce (NASDAQ:EVCM) Reaches New 12-Month Low – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $7.66 and last traded at $7.8940, with a volume of 18542 shares trading hands. The stock had previously closed at $7.93.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EVCM shares. Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a research report on Friday, August 21st. Canaccord Genuity Group increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 price objective on shares of EverCommerce in a report on Friday, May 8th. Wall Street Zen downgraded EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, Royal Bank Of Canada reduced their price target on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.00.

EverCommerce Stock Performance

The firm has a market capitalization of $1.42 billion, a PE ratio of 44.58, a PEG ratio of 0.77 and a beta of 0.84. The stock’s 50 day moving average price is $10.43 and its two-hundred day moving average price is $10.63. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data 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). The company had revenue of $152.02 million during the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other news, Director Eric Remer sold 47,353 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total transaction of $390,188.72. Following the sale, the director owned 5,022,792 shares in the company, valued at $41,387,806.08. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 625,520 shares of company stock worth $6,181,302. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CoreCap Advisors LLC purchased a new position in EverCommerce during the second quarter worth approximately $2,716,000. Bank of America Corp DE purchased a new stake in shares of EverCommerce during the 2nd quarter valued at $125,000. Barclays PLC increased its holdings in shares of EverCommerce by 5.1% during the 4th quarter. Barclays PLC now owns 22,854 shares of the company’s stock worth $277,000 after buying an additional 1,101 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of EverCommerce by 76.8% in the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock worth $198,000 after buying an additional 7,085 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of EverCommerce in the 4th quarter worth $177,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

About EverCommerce

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.