EverCommerce Inc. (NASDAQ:EVCM) Given Consensus Rating of “Hold” by Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.36.

Several brokerages recently weighed in on EVCM. Jefferies Financial Group cut their target price on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Oppenheimer cut their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Piper Sandler cut their target price on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Royal Bank Of Canada cut their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Finally, Canaccord Genuity Group boosted their price target on shares of EverCommerce from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th.

EverCommerce Price Performance

EverCommerce stock opened at $9.55 on Friday. The company’s 50 day simple moving average is $10.09 and its 200-day simple moving average is $10.33. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -53.06 and a beta of 1.05. EverCommerce has a 1 year low of $8.10 and a 1 year high of $12.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.29 and a current ratio of 2.29.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). EverCommerce had a negative return on equity of 3.13% and a negative net margin of 4.84%. The business had revenue of $142.27 million for the quarter, compared to analysts’ expectations of $146.28 million. During the same period in the previous year, the company earned ($0.09) earnings per share. EverCommerce’s quarterly revenue was down 16.3% on a year-over-year basis. As a group, equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Matthew David Feierstein sold 24,300 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $10.02, for a total value of $243,486.00. Following the transaction, the president now directly owns 2,341,006 shares of the company’s stock, valued at $23,456,880.12. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 4,455 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $9.51, for a total transaction of $42,367.05. Following the completion of the transaction, the chief executive officer now directly owns 5,389,163 shares in the company, valued at $51,250,940.13. This trade represents a 0.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 231,781 shares of company stock worth $2,358,687 in the last 90 days. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVCM. Janus Henderson Group PLC grew its position in shares of EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after buying an additional 110,183 shares during the last quarter. Woodline Partners LP grew its position in shares of EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after buying an additional 106,359 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of EverCommerce in the 4th quarter valued at $694,000. Arrowstreet Capital Limited Partnership grew its position in shares of EverCommerce by 84.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock valued at $1,468,000 after buying an additional 61,144 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in EverCommerce by 48.6% during the 4th quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company’s stock worth $1,695,000 after purchasing an additional 49,745 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.