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Matthew David Feierstein, President of EverCommerce Inc. (NASDAQ:EVCM), recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions, executed under a pre-established trading plan, involved the sale of 24,800 shares for a total value of $248,512. According to InvestingPro data, EverCommerce, with a market capitalization of $1.84 billion, has seen its stock surge nearly 12% over the past week.
The sales occurred over two days. On March 17, Feierstein sold 8,963 shares at a weighted average price of $10.0225 per share. Two days later, on March 19, he sold an additional 15,837 shares at a weighted average price of $10.0196 per share. The sales prices for these transactions ranged from $10.00 to $10.09. InvestingPro analysis indicates the company appears undervalued at current levels, with three analysts recently revising their earnings expectations upward.
Following these transactions, Feierstein retains direct ownership of 2,392,252 shares of EverCommerce, with an additional 150,000 shares held indirectly by a family trust. These transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks to avoid potential insider trading violations. The company maintains strong liquidity with a current ratio of 1.97, and InvestingPro subscribers can access over 30 additional financial metrics and insights about EverCommerce’s financial health and growth prospects.
In other recent news, EverCommerce Inc. reported its fourth-quarter 2024 earnings, showing a revenue of $175 million, which exceeded expectations but was accompanied by a larger-than-anticipated loss per share of $0.07. The company had projected a loss of $0.01 per share. EverCommerce’s announcement of its plan to divest its Marketing Technology (MarTech) segment in 2025 is a significant development, as this segment contributed $136.7 million in revenue for 2024. The divestiture is expected to streamline operations and focus on core business growth, particularly in the EverPro and EverHealth segments.
Analyst firms have reacted to these developments with varying perspectives. Piper Sandler adjusted EverCommerce’s stock target to $9 from $11, maintaining a Neutral stance, while RBC Capital Markets reduced its target to $11 from $14 but kept an Outperform recommendation, noting stable underlying business trends. Citizens JMP remains confident in EverCommerce’s strategy, maintaining a Market Outperform rating with a $15 target, highlighting the positive steps in strategic simplification.
EverCommerce’s full-year 2024 pro forma revenue showed a 5.7% growth, with adjusted EBITDA reaching $50.4 million, a 17% increase year-over-year. The company’s strategic focus remains on developing its SaaS products and integrated finance solutions, with an emphasis on subscription and transaction revenue growth, which rose by 4.2% to $139 million. Investors will be closely monitoring EverCommerce’s progress as it navigates these strategic changes and aims for continued growth in its core business areas.
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