EverCommerce (NASDAQ:EVCM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded EverCommerce from “buy” to “strong-buy,” although the broader analyst consensus remains “hold” with an average price target of $11.00.
• EverCommerce shares opened at $7.92, near their 12-month low of $7.66 and below their 50-day and 200-day moving averages. The company’s latest quarterly EPS of $0.05 missed the $0.15 consensus estimate, while revenue of $152.02 million was roughly in line with expectations.
• Insiders have sold 640,184 shares worth about $6.3 million over the past 90 days, while institutional investors own a substantial 97.91% of the company’s stock.

EverCommerce (NASDAQ:EVCM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

EVCM has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of EverCommerce in a research note on Friday, August 21st. Royal Bank Of Canada reduced their price objective on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Barclays upped their price target on EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.00.

EverCommerce Trading Down 0.1%

Shares of EverCommerce stock opened at $7.92 on Friday. The company has a 50-day moving average of $10.40 and a two-hundred day moving average of $10.61. The stock has a market cap of $1.40 billion, a PE ratio of 44.00, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. EverCommerce has a 12-month low of $7.66 and a 12-month high of $14.41.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). The firm had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The business's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, research analysts anticipate that EverCommerce will post 0.52 EPS for the current fiscal year.

Insider Transactions at EverCommerce

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the transaction, the director directly owned 5,011,125 shares in the company, valued at $40,439,778.75. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 640,184 shares of company stock valued at $6,299,278 over the last 90 days. Corporate insiders own 10.10% of the company's stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently modified their holdings of EVCM. JPMorgan Chase & Co. raised its position in shares of EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company's stock valued at $1,107,000 after acquiring an additional 11,996 shares in the last quarter. American Century Companies Inc. lifted its position in shares of EverCommerce by 19.8% in the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock worth $290,000 after buying an additional 4,576 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after buying an additional 1,190 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of EverCommerce in the 2nd quarter valued at about $302,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of EverCommerce by 5,995.2% in the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company's stock valued at $523,000 after buying an additional 49,041 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

EverCommerce Company Profile

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.

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