EverCommerce (NASDAQ:EVCM) Raised to Strong-Buy at Wall Street Zen

EverCommerce (NASDAQ:EVCM) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.

EVCM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a research report on Friday, August 21st. Canaccord Genuity Group upped 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. Barclays raised their target price on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada cut their target price on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.00.

EverCommerce Price Performance

NASDAQ EVCM opened at $7.92 on Friday. EverCommerce has a 1 year low of $7.66 and a 1 year high of $14.41. The stock has a market capitalization of $1.40 billion, a PE ratio of 44.00, a PEG ratio of 0.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The business’s 50-day moving average is $10.40 and its 200 day moving average is $10.61.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The business had revenue of $152.02 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $0.04 EPS. Sell-side analysts forecast that EverCommerce will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $8.07, for a total value of $51,276.78. Following the completion of the transaction, the director owned 5,011,125 shares in the company, valued at approximately $40,439,778.75. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 640,184 shares of company stock valued at $6,299,278 over the last 90 days. 10.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new position in EverCommerce during the 2nd quarter valued at about $125,000. Prudential Financial Inc. grew its holdings in 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 during the period. Deutsche Bank AG bought a new position in shares of EverCommerce during the second quarter valued at approximately $144,000. Oxford Asset Management LLP bought a new position in shares of EverCommerce during the second quarter valued at approximately $168,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of EverCommerce by 863.2% during 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 last quarter. 97.91% of the stock is currently owned by institutional investors.

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.