EverCommerce (NASDAQ:EVCM) Trading Up 7.8% – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM)’s stock price rose 7.8% during mid-day trading on Friday . The company traded as high as $9.45 and last traded at $9.42. 76,970 shares were traded during mid-day trading, a decline of 44% from the average session volume of 137,916 shares. The stock had previously closed at $8.74.

Wall Street Analyst Weigh In

EVCM has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, March 13th. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. Wall Street Zen downgraded shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Citizens Jmp lowered shares of EverCommerce from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.25.

EverCommerce Stock Performance

The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.66 billion, a PE ratio of 55.39, a P/E/G ratio of 1.87 and a beta of 0.92. The firm’s 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $11.10.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The company had revenue of $147.47 million during the quarter, compared to analysts’ expectations of $147.18 million. During the same period in the prior year, the business posted $0.01 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that EverCommerce Inc. will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 13,542 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.53, for a total transaction of $142,597.26. Following the sale, the chief executive officer owned 2,809,084 shares in the company, valued at approximately $29,579,654.52. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Matthew David Feierstein sold 10,000 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $11.90, for a total value of $119,000.00. Following the completion of the transaction, the president directly owned 2,160,606 shares in the company, valued at $25,711,211.40. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 281,996 shares of company stock valued at $3,092,678 in the last 90 days. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Large investors have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in EverCommerce in the third quarter valued at approximately $122,000. Prudential Financial Inc. raised its position in EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in EverCommerce during the 4th quarter valued at approximately $177,000. BNP Paribas Financial Markets lifted its stake in EverCommerce by 863.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock valued at $171,000 after acquiring an additional 13,734 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in shares of EverCommerce in the 2nd quarter valued at $168,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.