EverCommerce Inc. (NASDAQ:EVCM) Receives Average Rating of “Hold” from Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.13.

EVCM has been the subject of several research analyst reports. Barclays lowered their target price on shares of EverCommerce from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, March 15th. Royal Bank of Canada dropped their price objective on EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Piper Sandler reissued a “neutral” rating and issued a $10.00 target price on shares of EverCommerce in a report on Friday, March 15th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 price target (down previously from $11.00) on shares of EverCommerce in a research report on Friday, March 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $12.00 price objective on shares of EverCommerce in a report on Friday, March 15th.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 3,794 shares of EverCommerce stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $9.61, for a total value of $36,460.34. Following the transaction, the chief executive officer now directly owns 1,305,407 shares of the company’s stock, valued at approximately $12,544,961.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 22,345 shares of company stock worth $209,568 in the last quarter. 11.50% of the stock is owned by insiders.

Institutional Trading of EverCommerce

A number of hedge funds have recently made changes to their positions in EVCM. Great Lakes Advisors LLC boosted its stake in EverCommerce by 143.9% during the 3rd quarter. Great Lakes Advisors LLC now owns 142,627 shares of the company’s stock valued at $1,431,000 after acquiring an additional 84,147 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of EverCommerce in the 4th quarter valued at about $391,000. RIA Advisory Group LLC bought a new position in shares of EverCommerce during the first quarter worth about $242,000. Quest Partners LLC acquired a new position in EverCommerce in the fourth quarter worth about $135,000. Finally, Strs Ohio bought a new stake in EverCommerce in the third quarter valued at about $108,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Stock Down 1.1 %

Shares of NASDAQ EVCM opened at $9.86 on Friday. The stock has a market cap of $1.84 billion, a P/E ratio of -42.87 and a beta of 1.05. The business’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $9.56. EverCommerce has a 12-month low of $6.22 and a 12-month high of $13.47. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The firm had revenue of $169.44 million for the quarter, compared to analyst estimates of $172.41 million. EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. As a group, equities analysts predict that EverCommerce will post -0.14 EPS for the current fiscal year.

About EverCommerce

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.