EverCommerce (NASDAQ:EVCM) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• EverCommerce was upgraded by Wall Street Zen from “buy” to “strong-buy”, though the broader analyst view still remains cautious with a consensus rating of Hold and an average target price of $11.25.
• The company reported its latest quarterly results with EPS of $0.04, missing expectations, while revenue came in at $147.47 million and rose 3.7% year over year.
• Despite recent bullish analyst action, EverCommerce stock traded at $9.20, below its 50-day and 200-day moving averages, and insiders have also been selling shares in recent months.

EverCommerce (NASDAQ:EVCM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also commented on EVCM. Oppenheimer reaffirmed an "outperform" rating on shares of EverCommerce in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Weiss Ratings lowered EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Royal Bank Of Canada decreased their target price on EverCommerce from $12.00 to $11.00 and set a "sector perform" rating for the company in a research report on Friday, March 13th. Finally, Canaccord Genuity Group boosted their target price on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.25.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $9.20 on Friday. EverCommerce has a one year low of $7.66 and a one year high of $14.41. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 54.12, a PEG ratio of 2.02 and a beta of 0.92. The business has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $11.05. 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 (NASDAQ:EVCM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.04 EPS 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 firm had revenue of $147.47 million during the quarter, compared to the consensus estimate of $147.18 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The business's quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that EverCommerce will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Matthew David Feierstein sold 10,000 shares of the business's stock in a transaction that occurred 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 transaction, the president owned 2,160,606 shares in the company, valued at $25,711,211.40. The trade was a 0.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 16,497 shares of the business's stock in a transaction that occurred 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 owned 2,517,220 shares in the company, valued at $27,160,803.80. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 314,652 shares of company stock worth $3,500,444 in the last 90 days. Company insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its stake in shares of EverCommerce by 118.3% in the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company's stock worth $34,000 after buying an additional 1,667 shares during the last quarter. R Squared Ltd purchased a new position in shares of EverCommerce in the 3rd quarter worth approximately $122,000. Prudential Financial Inc. boosted its stake in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after buying an additional 1,190 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of EverCommerce in the 4th quarter worth approximately $177,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of EverCommerce by 863.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock worth $171,000 after buying an additional 13,734 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

EverCommerce Company Profile

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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