EverCommerce Inc. (NASDAQ:EVCM) Given Average Recommendation of “Hold” by Analysts

EverCommerce Inc. (NASDAQ:EVCM) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.09.

Several research analysts have recently issued reports on EVCM shares. Barclays lowered their price objective on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Jefferies Financial Group cut their price objective on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, March 14th. Piper Sandler lowered their target price on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Monday. Finally, The Goldman Sachs Group dropped their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 14th.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $9.99 on Friday. The business has a 50-day simple moving average of $10.12 and a 200-day simple moving average of $10.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. EverCommerce has a one year low of $8.10 and a one year high of $12.35. The company has a market cap of $1.83 billion, a PE ratio of -35.68 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same quarter last year, the firm earned ($0.12) EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that EverCommerce will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 5,453 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $10.56, for a total transaction of $57,583.68. Following the completion of the transaction, the chief executive officer now owns 7,892,772 shares in the company, valued at approximately $83,347,672.32. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the transaction, the president now owns 2,217,294 shares in the company, valued at $23,968,948.14. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,833 shares of company stock valued at $2,265,542. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after acquiring an additional 2,040 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of EverCommerce during the 4th quarter valued at approximately $29,000. Wells Fargo & Company MN raised its stake in shares of EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after purchasing an additional 3,106 shares in the last quarter. Finally, Barclays PLC grew its position in shares of EverCommerce by 11.2% in the 4th quarter. Barclays PLC now owns 32,989 shares of the company’s stock worth $363,000 after acquiring an additional 3,312 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.