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

EverCommerce Inc. (NASDAQ:EVCM) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.56.

EVCM has been the subject of several analyst reports. Royal Bank of Canada upped their price target on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities raised their price target on EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Barclays boosted their price objective on EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their target price 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. Finally, Oppenheimer increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th.

Insider Transactions at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 17,545 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.92, for a total value of $209,136.40. Following the completion of the transaction, the president now owns 2,246,624 shares in the company, valued at approximately $26,779,758.08. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Richard Remer sold 5,453 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $10.56, for a total value of $57,583.68. Following the transaction, the chief executive officer now directly owns 7,892,772 shares of the company’s stock, valued at $83,347,672.32. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,152 shares of company stock valued at $1,909,253. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EVCM. SG Americas Securities LLC purchased a new stake in EverCommerce in the third quarter worth about $107,000. The Manufacturers Life Insurance Company grew its stake in shares of EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after buying an additional 1,089 shares during the last quarter. Renaissance Technologies LLC raised its stake in EverCommerce by 19.4% during the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock valued at $182,000 after buying an additional 2,700 shares during the last quarter. RIA Advisory Group LLC bought a new stake in EverCommerce in the third quarter worth $241,000. Finally, Barclays PLC grew its stake in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after acquiring an additional 22,360 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Price Performance

Shares of EverCommerce stock opened at $10.11 on Thursday. The business’s 50-day moving average price is $11.47 and its 200-day moving average price is $10.97. The firm has a market capitalization of $1.86 billion, a PE ratio of -36.11 and a beta of 1.14. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. The company’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts forecast that EverCommerce will post -0.17 EPS for the current fiscal year.

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.