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 eleven research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.09.

Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, March 14th. Oppenheimer lowered their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Piper Sandler reduced their price target on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Barclays reduced their price objective on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Finally, The Goldman Sachs Group lowered their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 14th.

Insider Activity

In other news, CEO Eric Richard Remer sold 11,200 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $10.12, for a total value of $113,344.00. Following the completion of the sale, the chief executive officer now owns 7,796,952 shares of the company’s stock, valued at $78,905,154.24. This trade represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Matthew David Feierstein sold 5,513 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $10.07, for a total value of $55,515.91. Following the transaction, the president now directly owns 2,187,695 shares in the company, valued at $22,030,088.65. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 272,207 shares of company stock worth $2,730,908 over the last 90 days. 11.60% of the stock is owned by company insiders.

Institutional Trading of EverCommerce

Several institutional investors have recently made changes to their positions in EVCM. Barclays PLC raised its holdings in EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after buying an additional 22,360 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in EverCommerce by 161.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after purchasing an additional 63,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after purchasing an additional 1,092 shares during the period. Raymond James Financial Inc. acquired a new position in EverCommerce during the fourth quarter valued at approximately $694,000. Finally, American Century Companies Inc. raised its position in shares of EverCommerce by 32.3% in the fourth quarter. American Century Companies Inc. now owns 22,753 shares of the company’s stock valued at $251,000 after purchasing an additional 5,554 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Price Performance

EVCM opened at $10.00 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $9.90 and its 200 day moving average price is $10.62. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -35.71 and a beta of 1.06.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. As a group, sell-side analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.