EverCommerce (NASDAQ:EVCM) Lowered to “Buy” Rating by Wall Street Zen

EverCommerce (NASDAQ:EVCM) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

EVCM has been the subject of several other reports. Weiss Ratings lowered EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Citizens Jmp downgraded EverCommerce from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. The Goldman Sachs Group lowered their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th. Finally, Canaccord Genuity Group boosted their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.25.

EverCommerce Stock Performance

EverCommerce stock opened at $9.13 on Friday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 53.71, a PEG ratio of 1.94 and a beta of 0.92. The stock has a fifty day moving average price of $10.87 and a 200 day moving average price of $11.09. EverCommerce has a 52 week low of $7.66 and a 52 week high of $14.41. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). The business had revenue of $147.47 million during the quarter, compared to analyst estimates of $147.18 million. EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities research analysts anticipate that EverCommerce will post 0.24 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, insider Lisa E. Storey sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $10.38, for a total transaction of $41,520.00. Following the completion of the sale, the insider owned 244,999 shares of the company’s stock, valued at approximately $2,543,089.62. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Eric Richard Remer sold 7,517 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $9.15, for a total value of $68,780.55. Following the sale, the chief executive officer directly owned 2,743,287 shares of the company’s stock, valued at approximately $25,101,076.05. This trade represents a 0.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 314,652 shares of company stock valued at $3,445,784. Company insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in EverCommerce in the third quarter valued at about $122,000. 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 last quarter. Oxford Asset Management LLP purchased a new position in EverCommerce in the second quarter valued at about $168,000. BNP Paribas Financial Markets boosted its holdings in EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock valued at $171,000 after purchasing an additional 13,734 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in EverCommerce in the fourth quarter valued at about $177,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.