Domo signs strategic collaboration agreement with AWS for AI solutions
Eric Remer, the Chief Executive Officer of EverCommerce Inc. (NASDAQ:EVCM), a $1.8 billion market cap company currently rated as undervalued according to InvestingPro analysis, recently sold shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, which took place on April 8 and 9, 2025, involved the sale of a total of 24,500 shares. The sales were executed at a weighted average price ranging between $9.414 and $9.4786 per share, amounting to a total value of $231,699. The company maintains a "GOOD" financial health score and has a current ratio of 1.97x, indicating strong liquidity position.
The shares were sold through Buckrail Partners, LLC, an entity indirectly owned by Remer. Following these transactions, Remer holds a significant number of shares through various trusts and direct ownership. The sales were conducted under a Rule 10b5-1 trading plan established on June 14, 2024, which allows company insiders to sell a predetermined number of shares at a predetermined time to avoid any potential accusations of insider trading.
These transactions come as part of routine portfolio management and do not necessarily reflect the executive's outlook on the company's future performance. Investors often keep a close eye on such filings to gauge insider sentiment, although it is important to consider the broader context of the sales. While currently unprofitable, analysts tracked by InvestingPro expect the company to turn profitable this year, with the next earnings report scheduled for May 7, 2025.
In other recent news, EverCommerce Inc. reported mixed results for its fourth-quarter 2024 earnings, with revenue slightly exceeding expectations at $175 million, surpassing the forecasted $170.52 million. However, the company reported a wider-than-expected loss per share of $0.07, missing the forecasted loss of $0.01. In a strategic move, EverCommerce announced plans to divest its Marketing Technology (MarTech) segment in 2025, which contributed approximately $136.7 million in revenue for the 2024 calendar year. Following this announcement, Piper Sandler downgraded the company's stock price target to $9 from $11, while maintaining a Neutral stance.
RBC Capital Markets also adjusted its outlook, reducing the stock price target to $11 from $14, yet continued to recommend the stock as Outperform. The firm noted EverCommerce's solid year-end performance, which surpassed both revenue and adjusted EBITDA expectations. Citizens JMP maintained a Market Outperform rating with a steady price target of $15, expressing confidence in the company's strategic simplification efforts. The planned divestment of the MarTech segment is expected to streamline operations and potentially enhance financial performance.
EverCommerce's strategic focus post-divestment will shift towards its EverPro and EverHealth segments, with an emphasis on core business growth and profitability. The company's full-year 2024 pro forma revenue showed a 5.7% growth, with subscription and transaction revenue rising by 4.2% to $139 million. For 2025, EverCommerce expects to maintain its EBITDA at a similar level to the guidance provided for 2024, projecting a midpoint EBITDA of $171.5 million.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.