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 published on Saturday,Wall Street Zen reports.

Several other research firms also recently issued reports on EVCM. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Barclays lifted their target price on shares of EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of EverCommerce in a report on Friday, August 21st. Finally, Royal Bank Of Canada reduced their price objective on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

EverCommerce Stock Performance

Shares of NASDAQ:EVCM opened at $7.92 on Friday. The business has a 50-day moving average of $10.36 and a two-hundred day moving average of $10.60. The firm has a market capitalization of $1.40 billion, a PE ratio of 44.00, a P/E/G ratio of 0.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. EverCommerce has a 12 month low of $7.66 and a 12 month high of $14.41.

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

Insider Activity at EverCommerce

In other news, Director Eric Remer sold 47,353 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total transaction of $390,188.72. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 628,501 shares of company stock worth $6,193,197. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in shares of EverCommerce by 149.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company’s stock worth $197,000 after purchasing an additional 1,187 shares during the last quarter. Bank of America Corp DE bought a new position in EverCommerce during the 2nd quarter worth approximately $125,000. Prudential Financial Inc. grew its position in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of EverCommerce in the 2nd quarter valued at approximately $144,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of EverCommerce during the 4th quarter valued at approximately $177,000. 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.