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

Shares of EverCommerce Inc. (NASDAQ:EVCM) have been given an average rating of “Hold” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $11.25.

EVCM has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Royal Bank Of Canada reduced their target price on EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a report on Friday, March 13th. Weiss Ratings lowered EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Citizens Jmp cut EverCommerce from an “outperform” rating to a “market perform” rating in a report on Friday, March 13th. Finally, 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 report on Friday, March 13th.

EverCommerce Trading Up 5.9%

EVCM opened at $10.65 on Thursday. EverCommerce has a twelve month low of $7.66 and a twelve month high of $14.41. The company has a 50-day simple moving average of $10.21 and a 200 day simple moving average of $11.09. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 62.65, a P/E/G ratio of 2.14 and a beta of 0.93.

EverCommerce (NASDAQ:EVCM) last issued 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). 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 analyst estimates of $147.18 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. EverCommerce’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that EverCommerce will post 0.24 EPS for the current fiscal year.

Insider Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 13,542 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.53, for a total transaction of $142,597.26. Following the completion of the transaction, the chief executive officer owned 2,809,084 shares of the company’s stock, valued at approximately $29,579,654.52. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $11.90, for a total transaction of $119,000.00. Following the completion of the transaction, the president directly owned 2,160,606 shares of the company’s stock, valued at $25,711,211.40. This trade represents a 0.46% 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. In the last quarter, insiders sold 252,796 shares of company stock worth $2,757,858. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted 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 buying an additional 1,190 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of EverCommerce during the second quarter worth $168,000. BNP Paribas Financial Markets increased 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 worth $171,000 after buying an additional 13,734 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of EverCommerce in the 4th quarter valued at $177,000. Finally, Wells Fargo & Company MN lifted its stake in shares of EverCommerce by 76.8% in the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock valued at $198,000 after acquiring an additional 7,085 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.