EverCommerce Inc. (NASDAQ:EVCM) Stock Has Consensus Price Target of $11.00 According to Analysts

Key Points

• Analyst sentiment is neutral: Ten brokerages give EverCommerce an average “Hold” rating, with two sells, five holds and three buys. The consensus 12-month price target is $11.00, versus a recent share price of $9.14.
• Recent earnings fell short of expectations: EverCommerce reported quarterly EPS of $0.05, missing the $0.15 consensus estimate, while revenue rose 2.7% year over year to $152.02 million.
• Institutional ownership remains high: Institutional investors own 97.91% of the company, while insiders sold more than 526,000 shares worth approximately $5.16 million over the past quarter.

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) have been assigned an average rating of "Hold" from the ten brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.00.

Several research firms recently commented on EVCM. Royal Bank Of Canada reduced their price objective on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, August 6th. Wall Street Zen downgraded shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 26th. Barclays lifted their price target 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, Weiss Ratings upgraded shares of EverCommerce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, September 24th.

EverCommerce Price Performance

Shares of NASDAQ EVCM opened at $9.14 on Friday. EverCommerce has a twelve month low of $6.21 and a twelve month high of $14.41. The firm has a market cap of $1.61 billion, a P/E ratio of 50.78, a PEG ratio of 0.88 and a beta of 0.75. The company has a 50 day moving average of $8.96 and a 200 day moving average of $10.13. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.05 EPS 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 analysts' expectations of $152.29 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts expect that EverCommerce will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other news, Director Eric Remer sold 47,353 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total value of $390,188.72. Following the transaction, the director directly owned 5,022,792 shares in the company, valued at $41,387,806.08. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 526,027 shares of company stock worth $5,161,280. 10.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EVCM. Bank of America Corp DE bought a new stake in shares of EverCommerce during the 2nd quarter valued at about $125,000. Deutsche Bank AG purchased a new stake in shares of EverCommerce during the 2nd quarter valued at about $144,000. 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 worth $209,000 after purchasing an additional 2,982 shares during the period. Bank of New York Mellon Corp bought a new position in shares of EverCommerce in the 2nd quarter worth approximately $324,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of EverCommerce by 117.7% in the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company's stock worth $552,000 after buying an additional 26,109 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

EverCommerce Company Profile

EverCommerce, Inc is a Denver-based provider of integrated software and payment solutions for service-oriented small and medium-sized businesses. The company develops and operates vertical-market software designed to help businesses manage customer relationships, scheduling, communications, billing, payments, marketing and other administrative functions.

Its solutions serve a range of industries, including health services, home and field services, fitness and wellness, and other professional services.

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