Shares of EverCommerce Inc. (NASDAQ:EVCM – Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.66 and last traded at $7.8940, with a volume of 18542 shares traded. The stock had previously closed at $7.93.
Analyst Upgrades and Downgrades
EVCM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Barclays lifted their target price on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of EverCommerce in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.
Check Out Our Latest Report on EverCommerce
EverCommerce Stock Up 1.2%
EverCommerce (NASDAQ:EVCM – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current year.
Insider Buying and Selling
In other EverCommerce news, Director Eric Remer sold 47,353 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total value of $390,188.72. Following the completion of the sale, the director directly owned 5,022,792 shares in the company, valued at $41,387,806.08. This represents a 0.93% decrease in their position. The sale 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. Insiders sold a total of 625,520 shares of company stock worth $6,181,302 in the last quarter. Company insiders own 10.10% of the company’s stock.
Institutional Investors Weigh In On EverCommerce
A number of institutional investors and hedge funds have recently made changes to their positions in EVCM. BlackRock Inc. purchased a new stake in EverCommerce during the second quarter worth about $10,724,000. CoreCap Advisors LLC purchased a new position in EverCommerce in the second quarter valued at $2,716,000. JPMorgan Chase & Co. grew its stake in EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after purchasing an additional 11,996 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in EverCommerce by 94.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after purchasing an additional 50,854 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of EverCommerce by 111.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock valued at $749,000 after buying an additional 34,979 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.
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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