EverCommerce (NASDAQ:EVCM) Sets New 52-Week High – Time to Buy?

EverCommerce Inc. (NASDAQ:EVCM) shares hit a new 52-week high on Thursday . The company traded as high as $12.90 and last traded at $12.90, with a volume of 369 shares traded. The stock had previously closed at $11.53.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EVCM shares. Royal Bank of Canada raised their price objective on shares of EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler raised their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Oppenheimer lifted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays lifted their target price on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, JMP Securities lifted their target price on shares of EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Performance

The company has a market cap of $2.05 billion, a price-to-earnings ratio of -39.82 and a beta of 1.12. The stock’s fifty day simple moving average is $11.46 and its two-hundred day simple moving average is $10.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 5,436 shares of EverCommerce stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total transaction of $54,849.24. Following the transaction, the chief executive officer now owns 8,100,550 shares in the company, valued at approximately $81,734,549.50. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Matthew David Feierstein sold 17,545 shares of EverCommerce stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.92, for a total transaction of $209,136.40. Following the transaction, the president now owns 2,246,624 shares in the company, valued at $26,779,758.08. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,722 shares of company stock worth $1,746,522 in the last quarter. 11.60% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently made changes to their positions in EVCM. Millennium Management LLC lifted its holdings in shares of EverCommerce by 673.4% during the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after acquiring an additional 281,551 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the period. JPMorgan Chase & Co. increased its stake in EverCommerce by 161.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after buying an additional 63,139 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in EverCommerce during the 3rd quarter worth $570,000. Finally, Edgestream Partners L.P. purchased a new stake in EverCommerce during the 3rd quarter worth $536,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Company Profile

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.