EverCommerce (NASDAQ:EVCM) Trading Up 4.9% Following Analyst Upgrade

EverCommerce Inc. (NASDAQ:EVCM)’s share price rose 4.9% during mid-day trading on Friday after Oppenheimer raised their price target on the stock from $11.00 to $12.00. Oppenheimer currently has an outperform rating on the stock. EverCommerce traded as high as $10.19 and last traded at $10.16. Approximately 53,096 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 135,878 shares. The stock had previously closed at $9.69.

EVCM has been the subject of several other reports. Barclays lowered their price objective on shares of EverCommerce from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note 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 for the company in a report on Friday, March 15th. Piper Sandler reiterated a “neutral” rating and issued a $10.00 price objective on shares of EverCommerce in a research report on Friday, March 15th. JMP Securities restated a “market outperform” rating and set a $12.00 target price on shares of EverCommerce in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of EverCommerce in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, EverCommerce currently has a consensus rating of “Moderate Buy” and an average price target of $11.22.

Insiders Place Their Bets

In related news, CEO Eric Richard Remer sold 4,016 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $9.00, for a total value of $36,144.00. Following the completion of the transaction, the chief executive officer now directly owns 1,292,061 shares in the company, valued at approximately $11,628,549. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 22,345 shares of company stock worth $209,568. 11.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in EverCommerce during the 3rd quarter valued at $108,000. Quest Partners LLC purchased a new position in shares of EverCommerce during the fourth quarter valued at approximately $135,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of EverCommerce by 7.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock valued at $254,000 after buying an additional 1,500 shares during the period. RIA Advisory Group LLC purchased a new stake in EverCommerce during the first quarter valued at $242,000. Finally, DekaBank Deutsche Girozentrale bought a new position in EverCommerce in the fourth quarter valued at about $391,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Stock Performance

The business has a fifty day simple moving average of $9.20 and a two-hundred day simple moving average of $9.57. The company has a market cap of $1.92 billion, a P/E ratio of -42.13 and a beta of 1.05. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.64.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $170.10 million during the quarter, compared to analysts’ expectations of $162.11 million. EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS. On average, sell-side analysts anticipate that EverCommerce Inc. will post -0.14 EPS for the current 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.