EverCommerce (NASDAQ:EVCM) Trading Up 4.9% on Analyst Upgrade

EverCommerce Inc. (NASDAQ:EVCM)’s share price was up 4.9% during mid-day trading on Friday after Oppenheimer raised their price target on the stock from $11.00 to $12.00. Oppenheimer currently has an outperform rating on the stock. EverCommerce traded as high as $10.19 and last traded at $10.16. Approximately 53,096 shares changed hands during trading, a decline of 61% from the average daily volume of 135,878 shares. The stock had previously closed at $9.69.

Several other research analysts have also recently commented on EVCM. Piper Sandler reiterated a “neutral” rating and issued a $10.00 price target on shares of EverCommerce in a research note on Friday, March 15th. Royal Bank of Canada cut their target price on EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. JMP Securities reissued a “market outperform” rating and set a $12.00 price target on shares of EverCommerce in a research report on Friday, March 15th. Barclays cut their price target on shares of EverCommerce from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 price objective (down from $11.00) on shares of EverCommerce in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.22.

Insiders Place Their Bets

In related news, CEO Eric Richard Remer sold 3,794 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.61, for a total transaction of $36,460.34. Following the sale, the chief executive officer now owns 1,305,407 shares in the company, valued at $12,544,961.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 22,345 shares of company stock valued at $209,568. Company insiders own 11.50% of the company’s stock.

Institutional Trading of EverCommerce

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of EverCommerce by 7.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock valued at $254,000 after purchasing an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in EverCommerce by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 185,359 shares of the company’s stock valued at $1,859,000 after acquiring an additional 3,831 shares in the last quarter. Strs Ohio purchased a new stake in EverCommerce in the 3rd quarter worth approximately $108,000. Quest Partners LLC acquired a new stake in EverCommerce during the fourth quarter valued at $135,000. Finally, RIA Advisory Group LLC bought a new stake in shares of EverCommerce in the 1st quarter valued at approximately $242,000. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Price Performance

The company’s 50-day simple moving average is $9.20 and its 200 day simple moving average is $9.57. The company has a market capitalization of $1.92 billion, a P/E ratio of -42.13 and a beta of 1.05. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.64.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Thursday, May 9th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. The business had revenue of $170.10 million for the quarter, compared to analyst estimates of $162.11 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that EverCommerce Inc. will post -0.14 earnings per share for the current fiscal year.

About EverCommerce

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.