EverCommerce Inc. (NASDAQ:EVCM) Receives $11.00 Consensus Target Price from Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has earned an average rating of “Hold” from the ten analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.00.

A number of research analysts have recently commented on the company. Barclays raised their target price on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Royal Bank Of Canada lowered their price objective on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings cut shares of EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th.

Insider Transactions at EverCommerce

In related news, Director Eric Remer sold 47,353 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total transaction of $390,188.72. Following the sale, the director owned 5,022,792 shares of the company’s stock, valued at $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 616,031 shares of company stock worth $6,078,783. Company insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

A number of hedge funds have recently made changes to their positions in EVCM. BlackRock Inc. bought a new position in shares of EverCommerce during the second quarter valued at $10,724,000. CoreCap Advisors LLC purchased a new stake in EverCommerce during the 2nd quarter valued at about $2,716,000. Bank of New York Mellon Corp bought a new stake in EverCommerce during the 2nd quarter valued at about $324,000. Bank of America Corp DE increased its stake in EverCommerce by 202.9% during the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock valued at $547,000 after purchasing an additional 32,053 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in EverCommerce by 117.7% in the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after buying an additional 26,109 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

EverCommerce Stock Up 6.2%

Shares of NASDAQ EVCM opened at $8.25 on Tuesday. The firm has a fifty day simple moving average of $9.80 and a two-hundred day simple moving average of $10.37. EverCommerce has a 12 month low of $6.21 and a 12 month high of $14.41. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.46 billion, a PE ratio of 45.83, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84.

EverCommerce (NASDAQ:EVCM) last announced its 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). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The company had revenue of $152.02 million for the quarter, compared to the consensus estimate of $152.29 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts expect that EverCommerce will post 0.52 earnings per share for the current year.

EverCommerce Company Profile

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.