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

Wall Street Zen upgraded shares of EverCommerce (NASDAQ:EVCM) from a buy rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group upped their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Royal Bank Of Canada dropped their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, August 6th. Barclays raised their target price on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of EverCommerce in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Performance

NASDAQ EVCM opened at $7.92 on Friday. EverCommerce has a 1-year low of $7.66 and a 1-year high of $14.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The stock’s 50 day simple moving average is $10.40 and its 200-day simple moving average is $10.61. The company has a market cap of $1.40 billion, a PE ratio of 44.00, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The business had revenue of $152.02 million for the quarter, compared to analyst estimates of $152.29 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that EverCommerce will post 0.52 EPS for the current fiscal year.

Insider Activity at EverCommerce

In related news, Director Eric Remer sold 47,353 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were 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 approximately $41,387,806.08. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 640,184 shares of company stock valued at $6,299,278. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in shares of EverCommerce in the second quarter valued at $125,000. Prudential Financial Inc. lifted its stake in EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares in the last quarter. Deutsche Bank AG purchased a new position in EverCommerce during the 2nd quarter valued at about $144,000. Oxford Asset Management LLP purchased a new position in EverCommerce during the 2nd quarter valued at about $168,000. Finally, BNP Paribas Financial Markets grew its position in EverCommerce by 863.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock valued at $171,000 after acquiring an additional 13,734 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce News Roundup

Here are the key news stories impacting EverCommerce this week:

• Positive Sentiment: Wall Street Zen upgraded EverCommerce (EVCM) to a “Strong Buy” rating, which may support the stock by signaling confidence in its valuation and future performance. EverCommerce upgraded to Strong Buy by Wall Street Zen
• Positive Sentiment: Institutional ownership remains high at approximately 97.9%, with BlackRock and CoreCap Advisors establishing new positions and Goldman Sachs significantly increasing its stake. These investments may provide some support for EVCM. Institutional investors and insider trading activity
• Neutral Sentiment: Analyst sentiment is mixed: EVCM has three Buy, five Hold and two Sell ratings, with an average price target of $11.00, above recent trading levels. However, RBC lowered its target to $10.00 and Barclays maintained an Underweight rating. EverCommerce analyst ratings
• Negative Sentiment: Director Eric Remer sold another 2,997 shares for about $24,000 on September 4, following sales of 6,354 shares on September 3 and 5,313 shares on September 2. The broader disclosed series shows more than 214,000 shares sold since August 21, although Remer still owns roughly 5.0 million shares. Continued insider selling can pressure investor confidence. EverCommerce director stock sales
• Negative Sentiment: EverCommerce’s latest quarterly results showed adjusted earnings of $0.05 per share, well below the $0.15 consensus estimate, while revenue was essentially in line at $152.02 million and grew only 2.7% year over year. The earnings shortfall remains a key concern for investors. EverCommerce quarterly earnings results

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.