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

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

EVCM has been the subject of a number of research reports. Royal Bank Of Canada decreased their price objective on EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a report on Friday, March 13th. Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citizens Jmp downgraded EverCommerce from an “outperform” rating to a “market perform” rating in a report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of EverCommerce in a report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a report on Friday, March 13th.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 5,658 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 2,803,426 shares of the company’s stock, valued at approximately $26,828,786.82. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, insider Lisa E. Storey sold 4,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $10.38, for a total value of $41,520.00. Following the completion of the sale, the insider directly owned 244,999 shares in the company, valued at approximately $2,543,089.62. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 314,652 shares of company stock valued at $3,500,444. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. grew its stake in shares of 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 acquiring an additional 1,667 shares during the last quarter. R Squared Ltd purchased a new stake in shares of EverCommerce in the third quarter worth $122,000. Prudential Financial Inc. grew 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 acquiring an additional 1,190 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in shares of EverCommerce in the second quarter worth $168,000. Finally, BNP Paribas Financial Markets grew its stake in shares of EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after acquiring an additional 13,734 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Price Performance

EVCM opened at $9.20 on Friday. The stock has a fifty day simple moving average of $11.11 and a two-hundred day simple moving average of $11.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 54.12, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. EverCommerce has a 12-month low of $7.66 and a 12-month high of $14.41.

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

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.