EverCommerce Inc. (NASDAQ:EVCM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is 19.36.

EVCM has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of EverCommerce from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 15th. Stifel Nicolaus cut their price objective on EverCommerce from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 21st. Canaccord Genuity Group decreased their target price on EverCommerce from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, May 10th. Piper Sandler cut their price target on shares of EverCommerce from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, March 15th. Finally, Oppenheimer restated a “buy” rating and set a $18.00 price objective on shares of EverCommerce in a report on Friday, June 17th.

Shares of EVCM stock opened at 8.50 on Thursday. EverCommerce has a one year low of 7.73 and a one year high of 23.41. The company has a market cap of $1.66 billion and a P/E ratio of -10.00. The firm has a 50-day moving average of 10.49 and a 200-day moving average of 12.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 1.71.

Several hedge funds and other institutional investors have recently bought and sold shares of EVCM. PSG Equity L.L.C. purchased a new stake in shares of EverCommerce during the 4th quarter valued at approximately $571,349,000. Public Employees Retirement Association of Colorado grew its position in shares of EverCommerce by 80.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 408,338 shares of the company’s stock valued at $6,431,000 after purchasing an additional 182,338 shares in the last quarter. Standard Investments LLC grew its position in shares of EverCommerce by 40.3% in the fourth quarter. Standard Investments LLC now owns 5,865,000 shares of the company’s stock valued at $92,374,000 after purchasing an additional 1,685,506 shares in the last quarter. BlackRock Inc. bought a new stake in shares of EverCommerce during the 3rd quarter valued at $15,459,000. Finally, Mayflower Financial Advisors LLC purchased a new stake in EverCommerce during the 4th quarter worth about $2,316,000. 87.59% of the stock is currently owned by institutional investors.

About EverCommerce (Get Rating)

EverCommerce Inc, together with its subsidiaries, engages in providing 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, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.

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