Shares of EverCommerce Inc. (NASDAQ:EVCM – Get Free Report) have received an average rating of “Reduce” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.42.
A number of brokerages have issued reports on EVCM. Oppenheimer lowered their target price on shares of EverCommerce from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, November 6th. Deutsche Bank Aktiengesellschaft lowered EverCommerce from a “buy” rating to a “hold” rating and cut their price target for the stock from $12.00 to $7.00 in a report on Friday. Weiss Ratings lowered EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, November 3rd. Royal Bank Of Canada reduced their price target on EverCommerce from $10.00 to $7.00 and set a “sector perform” rating for the company in a research report on Friday, November 6th. Finally, Canaccord Genuity Group decreased their price objective on EverCommerce from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 6th.
Read Our Latest Stock Report on EverCommerce
Insider Buying and Selling
In other EverCommerce news, Director Eric Remer sold 47,353 shares of EverCommerce stock in a transaction dated 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 of the company’s stock, valued at $41,387,806.08. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 381,273 shares of company stock valued at $3,574,713. 10.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On EverCommerce
Institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP grew its stake in EverCommerce by 16.7% during the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after acquiring an additional 2,982 shares in the last quarter. Ethic Inc. bought a new stake in EverCommerce during the 3rd quarter worth approximately $88,000. Bank of America Corp DE bought a new stake in EverCommerce during the 2nd quarter worth approximately $125,000. Deutsche Bank AG bought a new stake in EverCommerce during the 2nd quarter worth approximately $144,000. Finally, Edgestream Partners L.P. purchased a new stake in EverCommerce in the 3rd quarter worth approximately $153,000. 97.91% of the stock is owned by hedge funds and other institutional investors.
EverCommerce Price Performance
Shares of NASDAQ:EVCM opened at $7.04 on Wednesday. The firm has a market capitalization of $1.24 billion, a PE ratio of 46.94, a P/E/G ratio of 0.79 and a beta of 0.63. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $8.51 and a two-hundred day moving average price of $10.20. EverCommerce has a twelve month low of $6.01 and a twelve month high of $14.41.
EverCommerce (NASDAQ:EVCM – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.13). The business had revenue of $151.45 million during the quarter, compared to the consensus estimate of $152.91 million. EverCommerce had a net margin of 4.81% and a return on equity of 4.00%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned ($0.03) EPS. Equities analysts forecast that EverCommerce will post 0.52 EPS for the current year.
About EverCommerce
EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.
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