EverCommerce Inc. (NASDAQ:EVCM) Given Consensus Recommendation of “Hold” by Analysts

EverCommerce Inc. (NASDAQ:EVCM) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities 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 12 month price objective among brokerages that have covered the stock in the last year is $11.25.

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of EverCommerce from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. The Goldman Sachs Group decreased their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 13th. Royal Bank Of Canada decreased their price objective on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Weiss Ratings raised shares of EverCommerce from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 target price on shares of EverCommerce in a research note on Friday.

EverCommerce Stock Down 8.1%

Shares of NASDAQ:EVCM opened at $10.11 on Wednesday. The firm has a fifty day moving average price of $11.48 and a two-hundred day moving average price of $11.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.11. EverCommerce has a one year low of $7.66 and a one year high of $14.41. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 2.49 and a beta of 0.94.

EverCommerce (NASDAQ:EVCM) last announced its quarterly 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 the consensus estimate of $147.18 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate that EverCommerce will post 0.23 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eric Richard Remer sold 7,208 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $10.72, for a total transaction of $77,269.76. Following the completion of the transaction, the chief executive officer directly owned 2,895,723 shares in the company, valued at $31,042,150.56. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Matthew David Feierstein sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $10.83, for a total transaction of $54,150.00. Following the completion of the transaction, the president owned 2,120,606 shares in the company, valued at approximately $22,966,162.98. The trade was a 0.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 306,745 shares of company stock worth $3,464,462 in the last three months. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently made changes to their positions in EVCM. Federated Hermes Inc. boosted its holdings in EverCommerce by 118.3% in the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after purchasing an additional 1,667 shares during the last quarter. State of Alaska Department of Revenue bought a new position in EverCommerce in the third quarter worth approximately $91,000. R Squared Ltd bought a new position in EverCommerce in the third quarter worth approximately $122,000. Prudential Financial Inc. increased its stake in shares of EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of EverCommerce in the second quarter worth $168,000. 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.