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

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) has been assigned an average recommendation of "Hold" from the ten brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.4444.

A number of analysts have recently commented on the company. Barclays cut EverCommerce from an "overweight" rating to an "equal weight" rating and set a $11.00 price objective for the company. in a research report on Tuesday, October 14th. Weiss Ratings restated a "sell (d-)" rating on shares of EverCommerce in a research report on Wednesday, October 8th. Lake Street Capital set a $11.00 price objective on EverCommerce in a research report on Tuesday, October 14th. Zacks Research cut EverCommerce from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Finally, Oppenheimer restated an "outperform" rating and issued a $13.00 price objective (up from $12.00) on shares of EverCommerce in a research report on Thursday, August 7th.

EverCommerce Stock Up 2.0%

Shares of EVCM stock opened at $11.78 on Friday. The stock has a 50 day moving average of $11.37 and a 200 day moving average of $10.71. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.70. The stock has a market cap of $2.14 billion, a P/E ratio of -98.16, a P/E/G ratio of 6.66 and a beta of 1.05. EverCommerce has a twelve month low of $8.10 and a twelve month high of $12.34.

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

Insider Activity

In other news, CEO Eric Richard Remer sold 7,465 shares of EverCommerce stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $11.42, for a total value of $85,250.30. Following the sale, the chief executive officer directly owned 3,011,924 shares of the company's stock, valued at $34,396,172.08. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 273,200 shares of company stock valued at $3,004,462 over the last quarter. Insiders own 10.40% of the company's stock.

Institutional Trading of EverCommerce

A number of institutional investors have recently made changes to their positions in EVCM. SG Americas Securities LLC boosted its stake in shares of EverCommerce by 220.6% in the first quarter. SG Americas Securities LLC now owns 29,886 shares of the company's stock worth $301,000 after acquiring an additional 20,563 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of EverCommerce by 129.1% in the first quarter. Mackenzie Financial Corp now owns 26,372 shares of the company's stock worth $266,000 after acquiring an additional 14,861 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of EverCommerce by 141.9% in the first quarter. Deutsche Bank AG now owns 9,836 shares of the company's stock worth $99,000 after acquiring an additional 5,770 shares during the last quarter. Nuveen LLC acquired a new stake in shares of EverCommerce in the first quarter worth approximately $493,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of EverCommerce in the first quarter worth approximately $102,000. 97.91% of the stock is owned by institutional investors and hedge funds.

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.

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