EverCommerce Inc. (NASDAQ:EVCM) Receives $11.50 Consensus PT from Brokerages

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.50.

EVCM has been the topic of several analyst reports. Oppenheimer reissued an "outperform" rating and issued a $13.00 price objective (up previously from $12.00) on shares of EverCommerce in a research note on Thursday, August 7th. Canaccord Genuity Group upped 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. Barclays upped their target price 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. Finally, Piper Sandler upped their target price on shares of EverCommerce from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 8th.

EverCommerce Price Performance

Shares of NASDAQ EVCM traded down $0.33 during midday trading on Monday, reaching $10.52. 133,931 shares of the company were exchanged, compared to its average volume of 172,654. 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 stock has a market cap of $1.91 billion, a P/E ratio of -87.87 and a beta of 1.06. The stock's 50-day moving average price is $10.55 and its 200-day moving average price is $10.26.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $148.02 million for the quarter, compared to analysts' expectations of $145.80 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. EverCommerce's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Matthew David Feierstein sold 25,000 shares of EverCommerce stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.53, for a total value of $263,250.00. Following the completion of the transaction, the president directly owned 2,270,672 shares in the company, valued at approximately $23,910,176.16. The trade was a 1.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Richard Remer sold 22,139 shares of EverCommerce stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.54, for a total transaction of $233,345.06. Following the completion of the transaction, the chief executive officer 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 sold a total of 270,929 shares of company stock valued at $2,831,388 over the last quarter. 10.40% of the stock is owned by company insiders.

Institutional Trading of EverCommerce

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in shares of EverCommerce during the 4th quarter valued at $29,000. Tower Research Capital LLC TRC raised its position in shares of EverCommerce by 145.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after buying an additional 2,040 shares in the last quarter. Deutsche Bank AG raised its position in EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after purchasing an additional 3,667 shares during the period. GAMMA Investing LLC raised its position in EverCommerce by 838.8% in the 1st quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after purchasing an additional 6,358 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in EverCommerce in the 1st quarter worth $102,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

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.