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

EverCommerce (NASDAQ:EVCM) issued its earnings results 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 6.31% and a negative return on equity of 5.33%. The business had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. EverCommerce’s revenue 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 Price Performance

Shares of EverCommerce stock opened at $11.98 on Wednesday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -52.09 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a 50 day moving average price of $10.59 and a 200-day moving average price of $10.51. EverCommerce has a one year low of $6.22 and a one year high of $12.35.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EVCM shares. Evercore ISI lifted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Oppenheimer lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Piper Sandler lifted their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.56.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of EverCommerce stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the transaction, the chief executive officer now directly owns 8,124,163 shares of the company’s stock, valued at $86,847,302.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 89,310 shares of company stock worth $965,566. Company insiders own 11.60% of the company’s stock.

EverCommerce Company Profile

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.