EverCommerce (NASDAQ:EVCM) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

EVCM has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of EverCommerce in a research note on Friday, May 8th. Canaccord Genuity Group upped their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. The Goldman Sachs Group dropped their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 13th. Finally, Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, EverCommerce currently has a consensus rating of “Hold” and an average target price of $11.25.

EverCommerce Price Performance

EverCommerce stock opened at $9.20 on Friday. EverCommerce has a 12 month low of $7.66 and a 12 month 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. The business’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $11.05. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 54.12, a PEG ratio of 2.02 and a beta of 0.92.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The firm had revenue of $147.47 million during the quarter, compared to analysts’ expectations of $147.18 million. During the same quarter in the previous year, the company posted $0.01 EPS. EverCommerce’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that EverCommerce will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 5,658 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $9.57, for a total transaction of $54,147.06. Following the sale, the chief executive officer owned 2,803,426 shares in the company, valued at $26,828,786.82. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lisa E. Storey sold 4,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $10.38, for a total value of $41,520.00. Following the sale, the insider owned 244,999 shares in the company, valued at approximately $2,543,089.62. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 314,652 shares of company stock worth $3,500,444 over the last 90 days. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors have recently made changes to their positions in EVCM. Tudor Investment Corp ET AL lifted its position in shares of EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after acquiring an additional 83,794 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of EverCommerce by 94.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after purchasing an additional 50,854 shares during the period. Lazard Asset Management LLC increased its holdings in shares of EverCommerce by 5,995.2% in the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock worth $523,000 after purchasing an additional 49,041 shares during the period. Zacks Investment Management bought a new position in shares of EverCommerce in the third quarter worth $418,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of EverCommerce by 111.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock worth $749,000 after purchasing an additional 34,979 shares during the period. 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.