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

Shares of EverCommerce Inc. (NASDAQ:EVCM) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.25.

Several equities analysts have recently weighed in on EVCM shares. Citizens Jmp lowered shares of EverCommerce from an “outperform” rating to a “market perform” rating in a report on Friday, March 13th. Royal Bank Of Canada cut their price objective on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Weiss Ratings cut shares of EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a report on Friday, March 13th. Finally, Canaccord Genuity Group increased their price target on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 16,497 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $10.79, for a total value of $178,002.63. Following the transaction, the chief executive officer owned 2,517,220 shares in the company, valued at approximately $27,160,803.80. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew David Feierstein sold 10,000 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $11.90, for a total value of $119,000.00. Following the completion of the transaction, the president owned 2,160,606 shares in the company, valued at approximately $25,711,211.40. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 314,652 shares of company stock worth $3,445,784. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently made changes to their positions in EVCM. JPMorgan Chase & Co. raised its holdings in shares of EverCommerce by 11.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after acquiring an additional 11,996 shares during the last quarter. American Century Companies Inc. boosted its stake in EverCommerce by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after purchasing an additional 4,576 shares during the last quarter. Prudential Financial Inc. boosted its stake in EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in EverCommerce during the 2nd quarter valued at about $302,000. Finally, Lazard Asset Management LLC boosted its stake in EverCommerce by 5,995.2% during the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock valued at $523,000 after purchasing an additional 49,041 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $9.13 on Friday. The company has a fifty day moving average of $10.87 and a 200-day moving average of $11.09. The firm has a market capitalization of $1.62 billion, a P/E ratio of 53.71, a P/E/G ratio of 1.94 and a beta of 0.92. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.72. EverCommerce has a twelve month low of $7.66 and a twelve month high of $14.41.

EverCommerce (NASDAQ:EVCM) last released 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 company had revenue of $147.47 million for the quarter, compared to analyst estimates of $147.18 million. EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. As a group, sell-side analysts anticipate that EverCommerce will post 0.24 EPS for the current year.

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.