EverCommerce (NASDAQ:EVCM) Stock Price Up 6.8% – What’s Next?

Shares of EverCommerce Inc. (NASDAQ:EVCM) shot up 6.8% during mid-day trading on Wednesday. The company traded as high as $8.50 and last traded at $8.5520. 76,192 shares were traded during trading, a decline of 49% from the average session volume of 149,229 shares. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EVCM. Royal Bank Of Canada cut their target price on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Barclays boosted their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Wall Street Zen cut EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 24th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

EverCommerce Trading Up 6.3%

The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.50 billion, a P/E ratio of 47.31, a PEG ratio of 0.78 and a beta of 0.84. The firm’s 50 day moving average is $9.38 and its two-hundred day moving average is $10.20.

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

Insider Buying and Selling

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the completion of the sale, the director owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. This represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 568,757 shares of company stock valued at $5,592,407 in the last quarter. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP raised 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 worth $209,000 after buying an additional 2,982 shares during the last quarter. Bank of America Corp DE bought a new stake in EverCommerce during the second quarter valued at $125,000. BlackRock Inc. acquired a new stake in EverCommerce during the 2nd quarter worth about $10,724,000. Deutsche Bank AG acquired a new stake in EverCommerce during the 2nd quarter worth about $144,000. Finally, Bank of New York Mellon Corp bought a new position in shares of EverCommerce in the 2nd quarter worth about $324,000. 97.91% of the stock is owned by institutional investors.

EverCommerce Company Profile

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.