EverCommerce (NASDAQ:EVCM) Sets New 1-Year Low – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM) reached a new 52-week low during trading on Thursday . The company traded as low as $6.63 and last traded at $6.76, with a volume of 181144 shares changing hands. The stock had previously closed at $7.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EVCM shares. Wall Street Zen upgraded shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of EverCommerce in a research report on Friday, August 21st. Royal Bank Of Canada dropped their target price on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, August 6th. Finally, Barclays upped their price target on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

EverCommerce Stock Down 5.8%

The firm has a market cap of $1.19 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84. The business has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $10.56. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts expect that EverCommerce Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at EverCommerce

In other news, Director Eric Remer sold 6,354 shares of EverCommerce stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the completion of the sale, the director directly owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 620,984 shares of company stock valued at $6,124,416. 10.10% of the stock is currently owned by company insiders.

Institutional Trading of EverCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP lifted its holdings in EverCommerce by 16.7% during the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after buying an additional 2,982 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of EverCommerce by 149.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company’s stock valued at $197,000 after acquiring an additional 1,187 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of EverCommerce in the 2nd quarter valued at about $125,000. BlackRock Inc. acquired a new stake in shares of EverCommerce during the 2nd quarter worth about $10,724,000. Finally, Deutsche Bank AG purchased a new stake in EverCommerce during the second quarter worth approximately $144,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.