EverCommerce (NASDAQ:EVCM) Raised to “Buy” at Wall Street Zen

EverCommerce (NASDAQ:EVCM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also commented on EVCM. Citizens Jmp lowered EverCommerce from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. Royal Bank Of Canada cut their target price on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Oppenheimer reaffirmed an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. The Goldman Sachs Group dropped their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 13th. Finally, Canaccord Genuity Group cut their price objective on shares of EverCommerce from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, EverCommerce currently has an average rating of “Hold” and an average price target of $10.71.

EverCommerce Stock Down 0.8%

NASDAQ:EVCM opened at $10.35 on Friday. The stock’s fifty day moving average price is $11.29 and its two-hundred day moving average price is $11.06. EverCommerce has a 52-week low of $7.66 and a 52-week high of $14.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 115.01, a P/E/G ratio of 2.30 and a beta of 1.04.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $151.15 million during the quarter, compared to the consensus estimate of $150.06 million. EverCommerce had a net margin of 2.99% and a return on equity of 2.49%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, analysts anticipate that EverCommerce will post -0.17 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Eric Richard Remer sold 19,200 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $11.52, for a total transaction of $221,184.00. Following the completion of the transaction, the chief executive officer owned 2,760,818 shares in the company, valued at approximately $31,804,623.36. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 312,462 shares of company stock worth $3,549,376. 10.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in shares of EverCommerce by 118.3% in the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after buying an additional 1,667 shares during the period. State of Alaska Department of Revenue acquired a new stake in EverCommerce during the 3rd quarter worth $91,000. R Squared Ltd bought a new position in EverCommerce during the third quarter worth about $122,000. Prudential Financial Inc. lifted its holdings in EverCommerce by 9.6% during the second 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. Finally, O Shaughnessy Asset Management LLC acquired a new position in EverCommerce in the fourth quarter valued at about $177,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Company Profile

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.