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

EverCommerce Inc. (NASDAQ:EVCM) has been assigned a consensus recommendation of “Reduce” from the ten brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $11.00.

EVCM has been the subject of a number of research reports. Barclays reduced their target price on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Royal Bank Of Canada downgraded EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a research report on Thursday, January 22nd. Zacks Research lowered EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Raymond James Financial cut EverCommerce from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 6th.

Insider Activity

In related news, President Matthew David Feierstein sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $11.34, for a total transaction of $113,400.00. Following the sale, the president directly owned 2,014,214 shares in the company, valued at approximately $22,841,186.76. This represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Richard Remer sold 19,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $11.43, for a total transaction of $219,456.00. Following the completion of the transaction, the chief executive officer directly owned 2,592,997 shares of the company’s stock, valued at approximately $29,637,955.71. This trade represents a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 356,707 shares of company stock worth $4,039,125. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors have recently made changes to their positions in EVCM. Federated Hermes Inc. boosted its holdings in shares of EverCommerce by 118.3% in the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after acquiring an additional 1,667 shares during the period. State of Alaska Department of Revenue purchased a new stake in EverCommerce during the 3rd quarter worth about $91,000. R Squared Ltd bought a new position in EverCommerce in the 3rd quarter worth about $122,000. Prudential Financial Inc. grew its holdings 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 buying an additional 1,190 shares in the last quarter. Finally, Inceptionr LLC bought a new stake in shares of EverCommerce during the second quarter valued at about $159,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Price Performance

EVCM opened at $12.13 on Friday. The firm has a market cap of $2.18 billion, a P/E ratio of -1,211.79, a PEG ratio of 2.51 and a beta of 1.04. The firm has a 50-day moving average of $11.49 and a 200 day moving average of $11.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02. EverCommerce has a fifty-two week low of $7.66 and a fifty-two week high of $14.41.

About EverCommerce

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.