EverCommerce Inc. (NASDAQ:EVCM) Given Average Recommendation of “Hold” by Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.00.

Several equities analysts have weighed in on the company. Wall Street Zen downgraded EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Royal Bank Of Canada reduced their price objective on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Canaccord Genuity Group upped their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Barclays raised their price target on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th.

EverCommerce Trading Down 4.3%

NASDAQ:EVCM opened at $9.68 on Friday. EverCommerce has a 52-week low of $7.66 and a 52-week high of $14.41. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $10.43 and a 200-day simple moving average of $10.76. The company has a market capitalization of $1.71 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business had revenue of $152.02 million during the quarter, compared to analysts’ expectations of $152.29 million. During the same period last year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that EverCommerce will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, insider Lisa E. Storey sold 17,012 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $10.01, for a total transaction of $170,290.12. Following the transaction, the insider owned 222,586 shares of the company’s stock, valued at $2,228,085.86. This represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eric Richard Remer sold 26,530 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $9.78, for a total value of $259,463.40. Following the sale, the director owned 5,434,803 shares in the company, valued at $53,152,373.34. This trade represents a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 473,960 shares of company stock worth $4,905,411. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in EverCommerce in the 2nd quarter valued at about $125,000. Prudential Financial Inc. lifted its holdings in shares of EverCommerce by 9.6% during the 2nd 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 period. Deutsche Bank AG purchased a new position in shares of EverCommerce during the 2nd quarter worth about $144,000. Oxford Asset Management LLP acquired a new stake in shares of EverCommerce in the second quarter worth approximately $168,000. Finally, BNP Paribas Financial Markets grew its holdings in EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock valued at $171,000 after purchasing an additional 13,734 shares during the period. 97.91% of the stock is currently 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.