Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) PT at $11.50

Key Points

• EverCommerce Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $11.50.
• The company reported earnings per share of $0.03 for the last quarter, exceeding analysts' estimates and showing a revenue increase of 5.3% year-over-year.
• Insiders have sold a total of 305,500 shares recently, indicating a decrease in their ownership, while institutional investors own 97.91% of the company's stock.

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) have received an average rating of "Moderate Buy" from the nine analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $11.50.

EVCM has been the subject of several analyst reports. Oppenheimer reissued an "outperform" rating and set a $13.00 price target (up from $12.00) on shares of EverCommerce in a report on Thursday, August 7th. Piper Sandler lifted their price target on shares of EverCommerce from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, Zacks Research raised shares of EverCommerce from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th.

EverCommerce Price Performance

EVCM traded down $0.13 during midday trading on Friday, reaching $11.38. 26,386 shares of the company's stock were exchanged, compared to its average volume of 180,817. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -94.78, a price-to-earnings-growth ratio of 10.12 and a beta of 1.06. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.70. EverCommerce has a one year low of $8.10 and a one year high of $12.34. The business has a 50-day simple moving average of $11.02 and a two-hundred day simple moving average of $10.36.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.96%. The firm had revenue of $148.02 million during the quarter, compared to analysts' expectations of $145.80 million. During the same quarter last year, the company earned ($0.02) earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Activity

In related news, President Matthew David Feierstein sold 25,000 shares of EverCommerce stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.53, for a total transaction of $263,250.00. Following the completion of the transaction, the president directly owned 2,270,672 shares of the company's stock, valued at $23,910,176.16. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 22,139 shares of EverCommerce stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $10.54, for a total transaction of $233,345.06. Following the transaction, the chief executive officer directly owned 5,220,024 shares of the company's stock, valued at $55,019,052.96. This represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 305,500 shares of company stock valued at $3,243,844 over the last three months. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in EverCommerce in the 4th quarter worth approximately $694,000. GAMMA Investing LLC raised its stake in shares of EverCommerce by 838.8% during the first quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after buying an additional 6,358 shares during the last quarter. Woodline Partners LP raised its stake in shares of EverCommerce by 24.8% during the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company's stock worth $5,891,000 after buying an additional 106,359 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company's stock worth $4,716,000 after buying an additional 110,183 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of EverCommerce by 220.6% during the first quarter. SG Americas Securities LLC now owns 29,886 shares of the company's stock worth $301,000 after buying an additional 20,563 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

About EverCommerce

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.