US stock futures flounder amid tech weakness, Fed caution
Matthew Feierstein, the President of EverCommerce Inc. (NASDAQ:EVCM), reported selling a total of 25,000 shares of the company’s common stock over two days, according to a recent SEC filing. The transactions, executed on April 1 and April 2, 2025, were part of a pre-established Rule 10b5-1 trading plan dated September 6, 2024. According to InvestingPro data, the company, currently valued at $1.9 billion, shows a "GOOD" overall financial health score, despite not being profitable over the last twelve months.
On April 1, Feierstein sold 21,624 shares at a weighted average price of $10.1288, with transaction prices ranging from $10.00 to $10.22. The following day, he sold an additional 3,376 shares at a weighted average price of $10.1013, with prices ranging from $10.00 to $10.17. The total value of these sales amounted to $253,127. The stock currently trades at $9.77, showing potential upside according to InvestingPro’s Fair Value analysis, with analysts setting price targets ranging from $8 to $15.
Additionally, on April 1, the company withheld 1,246 shares from Feierstein to cover tax obligations related to the vesting of Restricted Stock Units, valued at a price of $10.24 per share, totaling $12,759.
Following these transactions, Feierstein holds 2,366,006 shares directly, with an additional 150,000 shares held indirectly through a family trust.
In other recent news, EverCommerce Inc. reported its fourth-quarter 2024 earnings, revealing revenue of $175 million, which exceeded expectations, although the company faced a wider-than-expected loss per share. The revenue surpassed the forecasted $170.52 million, but the reported loss per share was $0.07, compared to an expected loss of $0.01. Following the earnings announcement, EverCommerce confirmed plans to sell its Marketing Technology (MarTech) segment in 2025, which had contributed $136.7 million in revenue for the year. The divestiture is expected to streamline operations, with the company focusing on its EverPro and EverHealth segments.
Analysts have weighed in on these developments, with Piper Sandler reducing EverCommerce’s stock price target to $9, maintaining a Neutral stance. RBC Capital Markets also adjusted its price target to $11, citing the exclusion of MarTech contributions from future guidance but maintaining an Outperform rating. Citizens JMP, however, upheld a $15 price target and a Market Outperform rating, expressing confidence in the company’s strategic simplification efforts.
EverCommerce’s full-year 2024 pro forma revenue showed a 5.7% growth, with subscription and transaction revenue rising by 4.2% to $139 million. The company’s adjusted EBITDA margin for the year was 25.3%. Looking ahead, EverCommerce has set its full-year 2025 guidance with revenue expected between $581 million and $601 million and adjusted EBITDA between $167.5 million and $175.5 million.
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