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

EverCommerce Inc. (NASDAQ:EVCM) has been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.7143.

A number of brokerages have recently issued reports on EVCM. Weiss Ratings raised shares of EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 13th. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a research report on Friday, March 13th. Wall Street Zen raised shares of EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Canaccord Genuity Group cut their price target on shares of EverCommerce from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Zacks Research cut EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th.

EverCommerce Stock Performance

Shares of NASDAQ EVCM opened at $11.78 on Tuesday. The stock’s 50-day moving average is $11.18 and its 200 day moving average is $11.05. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 130.90, a P/E/G ratio of 2.51 and a beta of 1.04. EverCommerce has a 1-year low of $7.66 and a 1-year high of $14.41. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.The firm had revenue of $151.15 million during the quarter, compared to analysts’ expectations of $150.06 million. During the same period in the prior year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Eric Richard Remer sold 2,703 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $11.06, for a total transaction of $29,895.18. Following the transaction, the chief executive officer directly owned 2,514,517 shares in the company, valued at $27,810,558.02. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew David Feierstein sold 5,000 shares of EverCommerce stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.17, for a total value of $60,850.00. Following the completion of the transaction, the president directly owned 1,984,941 shares in the company, valued at $24,156,731.97. This trade represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 307,071 shares of company stock valued at $3,459,355 over the last 90 days. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after buying an additional 11,996 shares during the period. American Century Companies Inc. increased its position in shares of EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after acquiring an additional 4,576 shares during the period. Prudential Financial Inc. increased its position in shares of EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Inceptionr LLC bought a new position in shares of EverCommerce during the second quarter valued at about $159,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of EverCommerce by 328.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock valued at $7,502,000 after acquiring an additional 547,712 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.