Royal Bank Of Canada Has Lowered Expectations for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its target price lowered by investment analysts at Royal Bank Of Canada from $11.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential downside of 8.42% from the company’s current price.

Several other analysts have also issued reports on EVCM. Barclays upped their target price on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday. Weiss Ratings downgraded shares of EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

EverCommerce Stock Up 2.9%

EVCM opened at $10.92 on Thursday. The stock has a market cap of $1.93 billion, a PE ratio of 60.67, a P/E/G ratio of 0.95 and a beta of 0.91. The company has a quick ratio of 2.08, a current ratio of 2.14 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 business’s fifty day simple moving average is $10.35 and its 200 day simple moving average is $10.91.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The firm had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. As a group, research analysts expect that EverCommerce will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 19,200 shares of EverCommerce stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $10.77, for a total value of $206,784.00. Following the transaction, the chief executive officer directly owned 5,660,251 shares of the company’s stock, valued at $60,960,903.27. The trade was a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 311,500 shares of company stock valued at $3,289,333. 10.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of EverCommerce during the second quarter valued at about $10,724,000. CoreCap Advisors LLC purchased a new stake in shares of EverCommerce during the second quarter worth about $2,716,000. Tudor Investment Corp ET AL grew its stake in shares of EverCommerce by 200.7% in the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after purchasing an additional 83,794 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of EverCommerce by 94.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after purchasing an additional 50,854 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in EverCommerce by 5,995.2% during the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock valued at $523,000 after purchasing an additional 49,041 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

More EverCommerce News

Here are the key news stories impacting EverCommerce this week:

• Positive Sentiment: Second-quarter revenue rose 2.7% year over year to $152.0 million, essentially matching the $152.29 million analyst consensus. The company also appointed Alex Goor as CEO, while founder Eric Remer remains on the board, potentially bringing fresh growth initiatives while preserving leadership continuity. EverCommerce Second-Quarter Results EverCommerce CEO Appointment
• Neutral Sentiment: CEO Eric Remer and President Matthew Feierstein sold shares through pre-arranged Rule 10b5-1 plans. The transactions were relatively small compared with their remaining holdings, reducing their significance, although the repeated selling may still attract investor attention.
• Negative Sentiment: EverCommerce reported quarterly earnings of approximately $0.05 per share, well below the $0.15 consensus estimate. Revenue was close to expectations, so the miss primarily highlights pressure on profitability and operating performance. EverCommerce Q2 Earnings Call Transcript
• Negative Sentiment: Third-quarter revenue guidance of $151.5 million to $154.5 million trails the $156.8 million analyst estimate, signaling slower near-term growth. Full-year guidance of $612 million to $632 million remains near consensus but offers limited upside at the midpoint.
• Negative Sentiment: Royal Bank of Canada cut its EverCommerce price target from $11.00 to $10.00 and maintained a “sector perform” rating. The new target is below the recent trading level, reinforcing concerns about valuation and growth prospects. RBC Cuts EverCommerce Price Target

EverCommerce Company Profile

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.