EverCommerce (NASDAQ:EVCM) Posts Earnings Results, Misses Expectations By $0.04 EPS

EverCommerce (NASDAQ:EVCM) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04), Briefing.com reports. The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The company’s revenue for the quarter was up .9% on a year-over-year basis. EverCommerce updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

EverCommerce Stock Down 1.4 %

Shares of EVCM stock opened at $11.98 on Wednesday. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The stock has a market cap of $2.21 billion, a PE ratio of -52.09 and a beta of 1.07. The business’s fifty day moving average is $10.59 and its 200-day moving average is $10.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68.

Insider Activity

In other news, CEO Eric Richard Remer sold 10,311 shares of EverCommerce stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.69, for a total transaction of $110,224.59. Following the transaction, the chief executive officer now directly owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 89,310 shares of company stock worth $965,566. 11.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler increased their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI raised their target price on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

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.