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

EverCommerce Inc. (NASDAQ:EVCM) has received a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.25.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. The Goldman Sachs Group reduced their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 13th. Oppenheimer reissued an “outperform” rating on shares of EverCommerce in a research report on Friday, March 13th. Citizens Jmp cut EverCommerce from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. Finally, Royal Bank Of Canada cut their price objective on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday, March 13th.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $10.10 on Wednesday. The firm has a 50-day moving average of $11.27 and a 200-day moving average of $11.03. The stock has a market cap of $1.79 billion, a PE ratio of 59.42, a PEG ratio of 2.29 and a beta of 0.94. EverCommerce has a 52-week low of $7.66 and a 52-week high of $14.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.08 and a current ratio of 2.08.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). The business had revenue of $147.47 million during the quarter, compared to the consensus estimate of $147.18 million. EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. As a group, sell-side analysts forecast that EverCommerce will post 0.23 EPS for the current year.

Insider Activity

In related news, CEO Eric Richard Remer sold 9,145 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $9.66, for a total transaction of $88,340.70. Following the completion of the sale, the chief executive officer owned 2,876,523 shares of the company’s stock, valued at $27,787,212.18. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Matthew David Feierstein sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $10.83, for a total transaction of $54,150.00. Following the sale, the president directly owned 2,120,606 shares of the company’s stock, valued at $22,966,162.98. This represents a 0.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 305,400 shares of company stock valued at $3,453,087 in the last ninety days. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently bought and sold shares of EVCM. Tudor Investment Corp ET AL lifted its position in EverCommerce by 200.7% during 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 period. Goldman Sachs Group Inc. lifted its position in EverCommerce by 94.7% during 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 period. Lazard Asset Management LLC lifted its position in EverCommerce by 5,995.2% during the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock worth $523,000 after purchasing an additional 49,041 shares during the period. Zacks Investment Management bought a new position in shares of EverCommerce in the third quarter worth about $418,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of EverCommerce by 111.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock worth $749,000 after acquiring an additional 34,979 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

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.