EverCommerce (NASDAQ:EVCM) Announces Earnings Results, Misses Estimates By $0.04 EPS

EverCommerce (NASDAQ:EVCM) issued 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 return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $176.26 million for 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 Price Performance

Shares of EverCommerce stock opened at $11.07 on Friday. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $10.62 and its 200 day moving average is $10.52.

Insider Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 10,311 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $10.69, for a total value of $110,224.59. Following the completion of the transaction, the chief executive officer now directly owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. This represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 111,377 shares of company stock worth $1,217,786. Corporate insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EVCM. Piper Sandler boosted their price target on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday. 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 report on Wednesday. Barclays lifted their price target on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their price target on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.