EverCommerce Inc. (NASDAQ:EVCM) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts give EverCommerce a consensus “Hold” rating: Three rate it a sell, four recommend holding, and three recommend buying. The average 12-month price target is $11.00, above the stock’s reported $7.56 opening price.
• EverCommerce’s latest quarterly results fell short of expectations, with earnings per share of $0.05 versus the $0.15 consensus estimate, while revenue was nearly in line with forecasts and rose 2.7% year over year.
• Insiders have been net sellers: Company insiders sold 616,340 shares worth about $6.1 million over the past three months, although institutional investors own a substantial 97.91% of the stock.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) has earned an average recommendation of "Hold" from the ten ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.00.

EVCM has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of EverCommerce from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, September 9th. Royal Bank Of Canada lowered their price objective on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, August 6th. Barclays boosted their target price on shares of EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised EverCommerce from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 5th.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $7.56 on Tuesday. The company has a 50-day moving average of $10.03 and a 200-day moving average of $10.49. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 42.00, a price-to-earnings-growth ratio of 0.62 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 twelve month low of $6.21 and a twelve month high of $14.41.

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

Insiders Place Their Bets

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the company's stock in a transaction dated 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 approximately $40,439,778.75. This represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 616,340 shares of company stock worth $6,082,388. Insiders own 10.10% of the company's stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new position in EverCommerce in the second quarter valued at approximately $125,000. Deutsche Bank AG acquired a new stake in EverCommerce during the 2nd quarter worth $144,000. California State Teachers Retirement System raised its position in shares of EverCommerce by 149.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company's stock valued at $197,000 after acquiring an additional 1,187 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of EverCommerce by 16.7% in the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company's stock valued at $209,000 after purchasing an additional 2,982 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of EverCommerce in the 2nd quarter valued at $324,000. 97.91% of the stock is owned by institutional investors.

EverCommerce Company Profile

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.

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