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

EverCommerce Inc. (NASDAQ:EVCM) has earned an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.7143.

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. The Goldman Sachs Group dropped their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 13th. Canaccord Genuity Group cut their target price on EverCommerce from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Oppenheimer reissued an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. Finally, Wall Street Zen upgraded EverCommerce from a “hold” rating to a “buy” rating in a report on Saturday.

EverCommerce Stock Up 8.7%

NASDAQ EVCM opened at $11.25 on Tuesday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.72. EverCommerce has a 52 week low of $7.66 and a 52 week high of $14.41. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 125.01, a PEG ratio of 2.28 and a beta of 1.04. The company has a fifty day moving average of $11.27 and a two-hundred day moving average of $11.05.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). EverCommerce had a net margin of 2.99% and a return on equity of 2.49%. The firm had revenue of $151.15 million during the quarter, compared to analysts’ expectations of $150.06 million. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that EverCommerce will post -0.17 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In related news, President Matthew David Feierstein sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $12.17, for a total value of $60,850.00. Following the transaction, the president owned 1,984,941 shares of the company’s stock, valued at $24,156,731.97. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 2,896 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $10.04, for a total transaction of $29,075.84. Following the completion of the transaction, the chief executive officer directly owned 2,533,717 shares in the company, valued at $25,438,518.68. This represents a 0.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 301,745 shares of company stock valued at $3,420,129. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several large investors have recently added to or reduced their stakes in EVCM. Squarepoint Ops LLC purchased a new position in shares of EverCommerce during the second quarter worth approximately $595,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of EverCommerce by 328.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock valued at $7,502,000 after purchasing an additional 547,712 shares during the period. Inceptionr LLC purchased a new stake in shares of EverCommerce in the second quarter valued at approximately $159,000. XTX Topco Ltd grew its stake in EverCommerce by 110.4% in the fourth quarter. XTX Topco Ltd now owns 51,877 shares of the company’s stock worth $628,000 after purchasing an additional 27,224 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in EverCommerce during the 3rd quarter worth $371,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.