EverCommerce (NASDAQ:EVCM) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of EverCommerce (NASDAQ:EVCM) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other research analysts have also recently weighed in on the company. Royal Bank Of Canada dropped their price target 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. Weiss Ratings raised shares of EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 13th. The Goldman Sachs Group dropped their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 13th. Oppenheimer restated an “outperform” rating on shares of EverCommerce in a research report on Friday, March 13th. Finally, Raymond James Financial downgraded shares of EverCommerce from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.71.

EverCommerce Price Performance

Shares of NASDAQ:EVCM opened at $10.35 on Friday. The business’s 50 day simple moving average is $11.29 and its 200-day simple moving average is $11.06. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 115.01, a price-to-earnings-growth ratio of 2.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.11 and a quick ratio of 2.11. EverCommerce has a 12 month low of $7.66 and a 12 month high of $14.41.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $151.15 million during the quarter, compared to analysts’ expectations of $150.06 million. EverCommerce had a net margin of 2.99% and a return on equity of 2.49%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. As a group, equities analysts forecast that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Matthew David Feierstein sold 5,000 shares of EverCommerce stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $12.17, for a total transaction of $60,850.00. Following the completion of the sale, the president owned 1,984,941 shares in the company, valued at approximately $24,156,731.97. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Richard Remer sold 2,896 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $10.04, for a total transaction of $29,075.84. Following the completion of the transaction, the chief executive officer directly owned 2,533,717 shares of the company’s stock, valued at $25,438,518.68. The trade was a 0.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 312,462 shares of company stock worth $3,549,376. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. grew its stake in 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 acquiring an additional 1,667 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of EverCommerce during the 3rd quarter worth $91,000. R Squared Ltd acquired a new stake in shares of EverCommerce during the third quarter worth $122,000. Prudential Financial Inc. boosted its holdings in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of EverCommerce in the second quarter valued at $159,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.