EverCommerce (NASDAQ:EVCM) Stock Price Up 11.2% - Time to Buy?

Key Points

• EverCommerce shares surged 11.2% to approximately $7.02, although trading volume was 71% below the average session volume.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and an average price target of $11, with ratings ranging from “Sell” to “Strong Buy.”
• The company reported quarterly EPS of $0.05, missing the $0.15 consensus estimate, while insiders sold roughly 621,000 shares over the past 90 days.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) shot up 11.2% during mid-day trading on Monday . The stock traded as high as $7.05 and last traded at $7.0190. 42,517 shares were traded during mid-day trading, a decline of 71% from the average session volume of 146,337 shares. The stock had previously closed at $6.31.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EVCM. Barclays upped their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a research report on Thursday, August 6th. Royal Bank Of Canada decreased their target price on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings lowered EverCommerce from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday. Finally, Wall Street Zen raised EverCommerce from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 5th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, EverCommerce has an average rating of "Hold" and an average target price of $11.00.

EverCommerce Stock Up 13.8%

The business's fifty day moving average price is $10.09 and its 200 day moving average price is $10.51. The company has a market capitalization of $1.27 billion, a P/E ratio of 39.86, a P/E/G ratio of 0.62 and a beta of 0.84. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). The business had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, equities research analysts predict that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eric Remer sold 47,353 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total transaction of $390,188.72. Following the completion of the transaction, the director owned 5,022,792 shares in the company, valued at $41,387,806.08. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 620,984 shares of company stock valued at $6,124,416. Corporate insiders own 10.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EVCM. Bank of America Corp DE bought a new position in shares of EverCommerce during the second quarter valued at $125,000. Prudential Financial Inc. increased its position in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after purchasing an additional 1,190 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of EverCommerce during the 2nd quarter worth about $144,000. Oxford Asset Management LLP bought a new position in EverCommerce during the 2nd quarter valued at about $168,000. Finally, BNP Paribas Financial Markets boosted its position in EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after buying an additional 13,734 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About EverCommerce

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.

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