EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Recommendation of “Reduce” from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has received an average recommendation of “Reduce” from the ten analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $11.00.

Several analysts recently commented on EVCM shares. Royal Bank Of Canada cut shares of EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price target for the company. in a report on Monday, January 5th. Lake Street Capital set a $11.00 target price on EverCommerce in a report on Tuesday, October 14th. Barclays dropped their price target on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Raymond James Financial lowered EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EverCommerce in a research note on Thursday, January 22nd.

Insider Activity at EverCommerce

In other news, President Matthew David Feierstein sold 5,000 shares of EverCommerce stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $12.10, for a total transaction of $60,500.00. Following the sale, the president directly owned 2,065,919 shares in the company, valued at approximately $24,997,619.90. The trade was a 0.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 3,090 shares of EverCommerce stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $11.62, for a total value of $35,905.80. Following the sale, the chief executive officer directly owned 2,703,218 shares in the company, valued at $31,411,393.16. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 315,503 shares of company stock worth $3,510,726 in the last three months. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in shares of EverCommerce in the second quarter valued at approximately $595,000. Arrowstreet Capital Limited Partnership boosted its stake in EverCommerce by 328.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock worth $7,502,000 after purchasing an additional 547,712 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of EverCommerce by 136.9% during the second quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock worth $862,000 after purchasing an additional 47,470 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of EverCommerce in the second quarter valued at $159,000. Finally, Tudor Investment Corp ET AL raised its holdings in shares of EverCommerce by 200.7% in the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock valued at $1,397,000 after buying an additional 83,794 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

EverCommerce Trading Up 2.2%

NASDAQ EVCM opened at $12.05 on Monday. EverCommerce has a twelve month low of $7.66 and a twelve month high of $14.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -1,203.80, a PEG ratio of 2.45 and a beta of 1.03. The firm’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $11.10.

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.