EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Recommendation of “Hold” from Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.25.

EVCM has been the subject of several research reports. Royal Bank Of Canada cut their target price on EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, March 13th. Wall Street Zen raised EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Canaccord Genuity Group upped their target price on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. The Goldman Sachs Group cut their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a research note on Friday, May 8th.

EverCommerce Stock Down 3.3%

Shares of EVCM opened at $9.20 on Friday. The firm has a market cap of $1.63 billion, a P/E ratio of 54.12, a P/E/G ratio of 1.95 and a beta of 0.92. The stock has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $11.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.08. EverCommerce has a 1 year low of $7.66 and a 1 year high of $14.41.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.10). The firm had revenue of $147.47 million during the quarter, compared to analysts’ expectations of $147.18 million. EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. On average, analysts forecast that EverCommerce will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 5,658 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $9.57, for a total value of $54,147.06. Following the completion of the sale, the chief executive officer owned 2,803,426 shares in the company, valued at approximately $26,828,786.82. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, President Matthew David Feierstein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $11.26, for a total value of $112,600.00. Following the completion of the sale, the president owned 2,106,254 shares of the company’s stock, valued at $23,716,420.04. The trade was a 0.47% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 314,652 shares of company stock worth $3,500,444. 10.10% of the stock is currently owned by insiders.

Institutional Trading of EverCommerce

Several hedge funds and other institutional investors have recently bought and sold shares of EVCM. Federated Hermes Inc. lifted its position in EverCommerce by 118.3% in the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after purchasing an additional 1,667 shares during the last quarter. R Squared Ltd bought a new stake in EverCommerce in the third quarter valued at approximately $122,000. Prudential Financial Inc. lifted its position 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 bought a new position in shares of EverCommerce during the second quarter valued at approximately $168,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of EverCommerce by 863.2% during the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock valued at $171,000 after acquiring an additional 13,734 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

About EverCommerce

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.