Lisa E. Storey, the Chief Legal Officer of EverCommerce Inc. (NASDAQ:EVCM), recently sold a portion of her holdings in the company. According to a recent SEC filing, Storey sold 9,232 shares of common stock on November 15, 2024. The shares were sold at a weighted average price of $11.11, with the total transaction amounting to $102,577.
Following the sale, Storey retains direct ownership of 144,342 shares. Additionally, she holds 2,941 shares indirectly through her spouse. The transactions were disclosed in a Form 4 filed with the Securities and Exchange Commission.
In other recent news, EverCommerce reported a modest growth in its Q3 2024 revenue, noting a year-over-year increase of 0.9%, totaling $176.3 million. The company's adjusted EBITDA rose to $44.5 million, with a margin of 25.3%, largely due to its focus on payments and subscription services. However, it saw a decline in its Marketing Technology Solutions revenue.
EverCommerce's Q4 2024 revenue is projected to be between $168 million and $172 million, with an adjusted EBITDA ranging from $43 million to $46 million. The company is set on reaccelerating its organic growth in 2025 and beyond, despite the dip in Net Revenue Retention due to past pricing changes.
EverCommerce's Payments sector and subscription services have shown strong performance, and the company is focusing on cross-sell and upsell opportunities in these areas. The CEO, Eric Remer, and CFO, Ryan Siurek, emphasized the company's commitment to transformation and optimization initiatives during the Q3 earnings call, highlighting the 25% year-over-year increase in customers enabled for multiple solutions. These are among the recent developments that investors should keep an eye on.
InvestingPro Insights
In light of Lisa E. Storey's recent stock sale, it's worth examining some key financial metrics and insights for EverCommerce Inc. (NASDAQ:EVCM). According to InvestingPro data, the company's market capitalization stands at $2.04 billion, reflecting its position in the market.
Despite the recent insider sale, InvestingPro Tips highlight that management has been aggressively buying back shares, which could signal confidence in the company's future prospects. This buyback activity may help support the stock price and potentially offset the impact of individual insider sales.
The company's financial health appears mixed. While EverCommerce's liquid assets exceed short-term obligations, indicating a strong liquidity position, it's important to note that the company was not profitable over the last twelve months. However, analysts predict that EverCommerce will be profitable this year, suggesting a potential turnaround in financial performance.
Investors should be aware that EverCommerce's stock has taken a significant hit over the last week, with a 1-week price total return of -8.48%. This recent downturn might present an opportunity for investors who believe in the company's long-term potential, especially considering that the stock is trading at 90.28% of its 52-week high.
For those seeking a more comprehensive analysis, InvestingPro offers additional insights with 10 tips available for EverCommerce, providing a deeper understanding of the company's financial position and market outlook.
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