EverCommerce Inc. (NASDAQ:EVCM) Receives $11.36 Consensus PT from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.36.

A number of equities research analysts have recently issued reports on EVCM shares. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 12th. The Goldman Sachs Group cut their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 14th. Jefferies Financial Group cut their price objective on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Oppenheimer cut their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Barclays boosted their price objective on shares of EverCommerce from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 10,117 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the transaction, the chief executive officer now owns 7,686,872 shares of the company’s stock, valued at approximately $69,566,191.60. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa E. Storey sold 9,574 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $11.23, for a total transaction of $107,516.02. Following the transaction, the insider now directly owns 214,593 shares of the company’s stock, valued at $2,409,879.39. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,800 shares of company stock valued at $2,962,321. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Woodline Partners LP boosted its holdings in shares of EverCommerce by 4.7% during the 1st quarter. Woodline Partners LP now owns 560,506 shares of the company’s stock valued at $5,650,000 after purchasing an additional 25,412 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after purchasing an additional 110,183 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of EverCommerce by 4.2% during the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock valued at $2,194,000 after purchasing an additional 7,954 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of EverCommerce by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of EverCommerce by 48.6% during the 4th quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company’s stock valued at $1,695,000 after purchasing an additional 49,745 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

EverCommerce Price Performance

Shares of EVCM opened at $10.02 on Wednesday. The firm has a market cap of $1.83 billion, a PE ratio of -35.78 and a beta of 1.07. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $10.12 and a two-hundred day simple moving average of $10.52. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $142.27 million for the quarter, compared to analysts’ expectations of $146.28 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, equities analysts anticipate that EverCommerce will post -0.17 EPS for the current year.

About EverCommerce

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.