EverCommerce Inc. (NASDAQ:EVCM) Receives $10.71 Consensus Price Target from Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM) have received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.7143.

EVCM has been the topic of several recent analyst reports. Weiss Ratings raised EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, March 13th. Raymond James Financial lowered EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded EverCommerce from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Canaccord Genuity Group dropped their price objective on EverCommerce from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, The Goldman Sachs Group cut their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 13th.

Insider Activity

In other news, CEO Eric Richard Remer sold 2,703 shares of EverCommerce stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $11.06, for a total value of $29,895.18. Following the transaction, the chief executive officer owned 2,514,517 shares of the company’s stock, valued at $27,810,558.02. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Matthew David Feierstein sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.17, for a total transaction of $60,850.00. Following the completion of the sale, the president owned 1,984,941 shares in the company, valued at $24,156,731.97. The trade was a 0.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 320,945 shares of company stock worth $3,628,026. 10.40% of the stock is owned by company insiders.

Institutional Trading of EverCommerce

Large investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in shares of EverCommerce by 118.3% in the third 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 in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of EverCommerce in the 3rd quarter worth $91,000. R Squared Ltd acquired a new stake in shares of EverCommerce during the third quarter worth $122,000. Prudential Financial Inc. lifted its holdings in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of EverCommerce during the fourth quarter valued at $177,000. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Stock Performance

EVCM stock opened at $11.75 on Tuesday. The company has a 50-day simple moving average of $11.23 and a 200 day simple moving average of $11.06. The company has a market capitalization of $2.09 billion, a P/E ratio of 130.57, a PEG ratio of 2.56 and a beta of 1.04. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.72. EverCommerce has a fifty-two week low of $7.66 and a fifty-two week high of $14.41.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $151.15 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted ($0.07) EPS. Sell-side analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

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.