EverCommerce Inc. (NASDAQ:EVCM) Given Average Rating of "Moderate Buy" by Brokerages

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 a consensus recommendation of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.50.

A number of brokerages have recently commented on EVCM. Oppenheimer reissued an "outperform" rating and set a $13.00 price objective (up from $12.00) on shares of EverCommerce in a research report on Thursday, August 7th. Barclays boosted their price target on shares of EverCommerce from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Canaccord Genuity Group raised their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Zacks Research raised shares of EverCommerce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Piper Sandler increased their target price on EverCommerce from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 8th.

EverCommerce Stock Down 1.7%

EVCM stock traded down $0.20 during midday trading on Friday, hitting $11.50. The company's stock had a trading volume of 171,760 shares, compared to its average volume of 181,735. The firm has a 50-day simple moving average of $11.00 and a 200-day simple moving average of $10.35. The firm has a market capitalization of $2.08 billion, a P/E ratio of -95.83, a PEG ratio of 9.38 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 52-week low of $8.10 and a 52-week high of $12.34.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. EverCommerce had a negative return on equity of 1.96% and a negative net margin of 3.27%.The business had revenue of $148.02 million for the quarter, compared to analysts' expectations of $145.80 million. During the same period last year, the firm 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, equities analysts forecast that EverCommerce will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 4,079 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $11.13, for a total transaction of $45,399.27. Following the sale, the chief executive officer owned 5,168,663 shares of the company's stock, valued at approximately $57,527,219.19. This trade represents a 0.08% 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, President Matthew David Feierstein sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the president owned 2,211,383 shares of the company's stock, valued at $24,855,944.92. This represents a 1.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 305,500 shares of company stock valued at $3,243,844. Corporate insiders own 10.40% of the company's stock.

Institutional Trading of EverCommerce

Several institutional investors and hedge funds have recently made changes to their positions in EVCM. BNP Paribas Financial Markets purchased a new position in EverCommerce during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its position in shares of EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock worth $38,000 after acquiring an additional 2,040 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after acquiring an additional 3,667 shares during the period. EntryPoint Capital LLC purchased a new stake in EverCommerce in the 1st quarter valued at $102,000. Finally, Wells Fargo & Company MN boosted its stake in EverCommerce by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after purchasing an additional 3,106 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.