EverCommerce (NASDAQ:EVCM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of EverCommerce (NASDAQ:EVCM) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently commented on EVCM. Deutsche Bank Aktiengesellschaft downgraded EverCommerce from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $7.00 in a report on Friday. Oppenheimer decreased their target price on EverCommerce from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday. Weiss Ratings downgraded EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, November 3rd. Barclays increased their price target 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. Finally, Royal Bank Of Canada cut their price objective on shares of EverCommerce from $10.00 to $7.00 and set a “sector perform” rating on the stock in a report on Friday. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $8.42.

EverCommerce Stock Performance

Shares of EVCM stock opened at $8.12 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $8.54 and a 200 day moving average price of $10.22. The company has a market cap of $1.43 billion, a P/E ratio of 54.14, a PEG ratio of 0.83 and a beta of 0.63. EverCommerce has a 12 month low of $6.01 and a 12 month high of $14.41.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). The business had revenue of $151.45 million during the quarter, compared to analyst estimates of $152.91 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Sell-side analysts predict that EverCommerce will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at EverCommerce

In other EverCommerce news, Director Eric Remer sold 47,353 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total transaction of $390,188.72. Following the transaction, the director owned 5,022,792 shares of the company’s stock, valued at approximately $41,387,806.08. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 406,075 shares of company stock valued at $3,819,509 in the last three months. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

Several institutional investors and hedge funds have recently made changes to their positions in EVCM. Ethic Inc. acquired a new stake in shares of EverCommerce in the 3rd quarter valued at about $88,000. Bank of America Corp DE acquired a new position in EverCommerce during the second quarter worth approximately $125,000. Deutsche Bank AG purchased a new stake in EverCommerce in the second quarter valued at approximately $144,000. Engineers Gate Manager LP lifted its stake in EverCommerce by 16.7% in the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after buying an additional 2,982 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in EverCommerce in the second quarter valued at approximately $324,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Company Profile

EverCommerce, Inc is a software and technology company that provides integrated, cloud-based solutions for service-oriented small and midsize businesses. Its platforms are designed to help businesses manage operations, customer relationships, payments, marketing and other administrative functions through specialized applications tailored to specific industries.

The company serves a broad range of vertical markets, including home and field services, health and wellness, fitness, education, professional services and other appointment- or membership-based businesses.