EverCommerce Inc. (NASDAQ:EVCM) Stock Now Rated “Hold” by Sell-Side Brokerages

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

EVCM has been the subject of a number of analyst reports. Barclays raised their price objective on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada cut their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Finally, Wall Street Zen downgraded EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th.

EverCommerce Price Performance

EVCM stock opened at $8.35 on Wednesday. The firm has a 50 day moving average price of $8.61 and a 200-day moving average price of $10.31. EverCommerce has a 52-week low of $6.21 and a 52-week high of $14.41. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 46.39, a PEG ratio of 0.84 and a beta of 0.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

EverCommerce (NASDAQ:EVCM) last issued 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 company had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. Equities research analysts forecast that EverCommerce will post 0.52 EPS for the current fiscal year.

Insider Activity at EverCommerce

In other EverCommerce news, President Matthew Feierstein sold 10,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the president directly owned 1,961,214 shares in the company, valued at approximately $19,612,140. This trade represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Remer sold 6,354 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total value of $51,276.78. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 436,327 shares of company stock valued at $4,120,251 in the last three months. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

Large investors have recently bought and sold shares of the business. Ethic Inc. bought a new position in EverCommerce during the 3rd quarter valued at about $88,000. Bank of America Corp DE bought a new stake in shares of EverCommerce in the second quarter worth approximately $125,000. Deutsche Bank AG bought a new stake in shares of EverCommerce in the second quarter worth approximately $144,000. Engineers Gate Manager LP grew its stake in shares of EverCommerce by 16.7% in the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after acquiring an additional 2,982 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of EverCommerce during the second quarter valued at approximately $324,000. 97.91% of the stock is currently owned by institutional investors.

About EverCommerce

EverCommerce, Inc is a software and technology company that provides integrated, cloud-based solutions for service-oriented small and midsize businesses. Its platforms are designed to help businesses manage operations, customer relationships, payments, marketing and other administrative functions through specialized applications tailored to specific industries.

The company serves a broad range of vertical markets, including home and field services, health and wellness, fitness, education, professional services and other appointment- or membership-based businesses.