EverCommerce Inc. (NASDAQ:EVCM) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) have been given an average rating of "Hold" by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $11.09.

EVCM has been the subject of several research reports. The Goldman Sachs Group cut their target price on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday. Barclays reduced their price objective on EverCommerce from $12.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Friday. Piper Sandler dropped their target price on EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday. Jefferies Financial Group cut their target price on EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research note on Friday. Finally, Royal Bank of Canada reduced their price target on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 7,235 shares of EverCommerce stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $11.22, for a total value of $81,176.70. Following the sale, the chief executive officer now directly owns 7,898,225 shares in the company, valued at approximately $88,618,084.50. This trade represents a 0.09 % 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 shares were sold at an average price of $10.81, for a total value of $220,534.81. Following the transaction, the president now directly owns 2,217,294 shares in the company, valued at $23,968,948.14. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,735 shares of company stock worth $1,864,596 in the last three months. 11.60% of the stock is owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVCM. Charles Schwab Investment Management Inc. boosted its stake in shares of EverCommerce by 0.7% during 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 raised its stake in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock worth $38,000 after buying an additional 2,040 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in EverCommerce in the fourth quarter worth about $29,000. Wells Fargo & Company MN boosted its position in EverCommerce by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock valued at $116,000 after acquiring an additional 3,106 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of EverCommerce by 11.2% during 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 during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Price Performance

Shares of NASDAQ:EVCM traded up $0.01 on Friday, hitting $9.98. The company's stock had a trading volume of 134,176 shares, compared to its average volume of 135,213. The company has a market capitalization of $1.83 billion, a PE ratio of -35.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The company has a 50-day simple moving average of $10.15 and a 200 day simple moving average of $10.71. EverCommerce has a 1 year low of $8.10 and a 1 year high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share 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 company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. During the same quarter last year, the company posted ($0.12) earnings per share. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts forecast that EverCommerce will post -0.17 EPS for the current fiscal year.

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.