EverCommerce (NASDAQ:EVCM) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded EverCommerce from “strong-buy” to “buy”, adding to a mixed analyst picture that currently shows a consensus Hold rating and an average price target of $11.25.
• EverCommerce reported Q1 earnings of $0.04 per share, missing estimates by $0.10, while revenue came in at $147.47 million, roughly in line with expectations and up 3.7% year over year.
• Company insiders have been selling shares, including the CEO and president; over the last three months, insiders sold 314,652 shares worth about $3.45 million.

EverCommerce (NASDAQ:EVCM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

EVCM has been the topic of a number of other reports. The Goldman Sachs Group decreased their price target on EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research note on Friday, March 13th. Royal Bank Of Canada decreased their price target on EverCommerce from $12.00 to $11.00 and set a "sector perform" rating on the stock in a research note on Friday, March 13th. Oppenheimer restated an "outperform" rating on shares of EverCommerce in a research note on Friday, March 13th. Canaccord Genuity Group lifted their price target on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, Citizens Jmp downgraded EverCommerce from an "outperform" rating to a "market perform" rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, EverCommerce presently has an average rating of "Hold" and a consensus target price of $11.25.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $9.13 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.08. EverCommerce has a 12 month low of $7.66 and a 12 month high of $14.41. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 53.71, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The business has a 50-day moving average of $10.87 and a 200 day moving average of $11.09.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The business had revenue of $147.47 million during the quarter, compared to analysts' expectations of $147.18 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that EverCommerce will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 16,497 shares of the business's stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $10.79, for a total value of $178,002.63. Following the completion of the transaction, the chief executive officer directly owned 2,517,220 shares of the company's stock, valued at $27,160,803.80. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Matthew David Feierstein sold 10,000 shares of the business's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $11.90, for a total value of $119,000.00. Following the completion of the transaction, the president directly owned 2,160,606 shares of the company's stock, valued at approximately $25,711,211.40. This trade represents a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 314,652 shares of company stock valued at $3,445,784. Insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of EverCommerce by 202.9% in the first quarter. Bank of America Corp DE now owns 47,848 shares of the company's stock worth $547,000 after acquiring an additional 32,053 shares during the last quarter. Quantinno Capital Management LP increased its stake in EverCommerce by 117.7% in the first quarter. Quantinno Capital Management LP now owns 48,290 shares of the company's stock valued at $552,000 after purchasing an additional 26,109 shares during the last quarter. XTX Topco Ltd increased its stake in EverCommerce by 110.4% in the fourth quarter. XTX Topco Ltd now owns 51,877 shares of the company's stock valued at $628,000 after purchasing an additional 27,224 shares during the last quarter. Barclays PLC increased its stake in EverCommerce by 5.1% in the fourth quarter. Barclays PLC now owns 22,854 shares of the company's stock valued at $277,000 after purchasing an additional 1,101 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in EverCommerce by 76.8% in the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock valued at $198,000 after purchasing an additional 7,085 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

About EverCommerce

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.

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