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

EverCommerce (NASDAQ:EVCM) released 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 business had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The business’s quarterly 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

EverCommerce stock opened at $11.98 on Wednesday. The firm has a market capitalization of $2.21 billion, a P/E ratio of -52.09 and a beta of 1.07. The business has a 50-day moving average of $10.59 and a 200-day moving average of $10.51. EverCommerce has a 1 year low of $6.22 and a 1 year 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.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 10,311 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 8,138,352 shares of the company’s stock, valued at approximately $86,998,982.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 89,310 shares of company stock valued at $965,566 over the last 90 days. 11.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.