EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Recommendation of “Reduce” from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has been given an average recommendation of “Reduce” by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.00.

EVCM has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of EverCommerce in a report on Thursday, January 22nd. Raymond James Financial lowered EverCommerce from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Zacks Research downgraded EverCommerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Royal Bank Of Canada lowered EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price target on the stock. in a research note on Monday, January 5th. Finally, Barclays lowered their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, November 10th.

Insider Activity

In related news, CEO Eric Richard Remer sold 32,706 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $9.87, for a total transaction of $322,808.22. Following the completion of the transaction, the chief executive officer owned 2,833,139 shares of the company’s stock, valued at approximately $27,963,081.93. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Matthew David Feierstein sold 10,921 shares of EverCommerce stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $10.03, for a total transaction of $109,537.63. Following the completion of the sale, the president owned 2,100,919 shares of the company’s stock, valued at $21,072,217.57. This trade represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 393,348 shares of company stock valued at $4,323,399. 10.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in EverCommerce in the 2nd quarter valued at approximately $595,000. Arrowstreet Capital Limited Partnership increased its position in shares of EverCommerce by 328.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock worth $7,502,000 after acquiring an additional 547,712 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of EverCommerce by 136.9% in the second quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock valued at $862,000 after acquiring an additional 47,470 shares in the last quarter. Inceptionr LLC purchased a new position in EverCommerce in the second quarter valued at $159,000. Finally, Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

EverCommerce Price Performance

Shares of EVCM stock opened at $11.50 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 2.02. The firm’s 50-day moving average is $11.51 and its two-hundred day moving average is $11.04. EverCommerce has a 12 month low of $7.66 and a 12 month high of $14.41. The company has a market capitalization of $2.06 billion, a PE ratio of -1,148.85, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03.

EverCommerce Company Profile

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.