EverCommerce Inc. (NASDAQ:EVCM) Receives Average Rating of “Moderate Buy” from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.45.

A number of equities analysts have weighed in on the stock. Evercore ISI upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Oppenheimer boosted their target price on shares of EverCommerce from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, May 10th.

EverCommerce Stock Performance

Shares of NASDAQ EVCM opened at $10.35 on Friday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -49.29 and a beta of 1.10. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35. The firm has a 50 day moving average of $10.93 and a 200 day moving average of $10.05. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $177.39 million during the quarter, compared to the consensus estimate of $171.88 million. EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that EverCommerce will post -0.11 earnings per share for the current year.

Insider Activity

In other news, CEO Eric Richard Remer sold 3,992 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $11.07, for a total value of $44,191.44. Following the sale, the chief executive officer now owns 1,254,286 shares of the company’s stock, valued at $13,884,946.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 8,477 shares of company stock valued at $93,840. 11.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new position in shares of EverCommerce in the fourth quarter worth about $135,000. Edgestream Partners L.P. bought a new position in EverCommerce during the 1st quarter worth about $123,000. Vanguard Group Inc. boosted its holdings in shares of EverCommerce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after buying an additional 30,481 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of EverCommerce by 42.9% in the 4th quarter. Great Lakes Advisors LLC now owns 203,863 shares of the company’s stock valued at $2,249,000 after buying an additional 61,236 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of EverCommerce by 57.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock valued at $512,000 after buying an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.