EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Rating of “Hold” from Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM) have earned an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $11.00.

Several research firms have recently issued reports on EVCM. Wall Street Zen lowered shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Barclays lifted their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a report on Friday, August 21st. Royal Bank Of Canada cut their price target on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th.

EverCommerce Stock Up 3.5%

EVCM stock opened at $9.34 on Friday. The stock has a fifty day moving average of $10.47 and a 200-day moving average of $10.70. EverCommerce has a fifty-two week low of $7.66 and a fifty-two week high of $14.41. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 51.89, a PEG ratio of 0.88 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The firm had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. As a group, equities research analysts predict that EverCommerce will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Eric Richard Remer sold 29,119 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $10.01, for a total transaction of $291,481.19. Following the sale, the director directly owned 5,482,246 shares in the company, valued at $54,877,282.46. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 543,689 shares of company stock worth $5,527,139. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in EverCommerce by 149.3% during the second 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 in the last quarter. Bank of America Corp DE purchased a new stake in EverCommerce in the 2nd quarter worth approximately $125,000. BlackRock Inc. bought a new position in EverCommerce in the 2nd quarter valued at $10,724,000. Deutsche Bank AG bought a new position in shares of EverCommerce in the second quarter worth $144,000. Finally, Bank of New York Mellon Corp bought a new position in shares of EverCommerce in the second quarter worth $324,000. 97.91% of the stock is currently owned by institutional investors.

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.