EverCommerce (NASDAQ:EVCM) Upgraded to Strong-Buy at Zacks Research

by · The Markets Daily

EverCommerce (NASDAQ:EVCM – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on EVCM. Piper Sandler increased their price objective on EverCommerce from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Barclays lowered their price target on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of EverCommerce in a report on Wednesday, October 8th. Lake Street Capital set a $11.00 target price on shares of EverCommerce in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada cut their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, EverCommerce presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Check Out Our Latest Stock Analysis on EverCommerce

EverCommerce Stock Down 3.1%

Shares of EVCM stock traded down $0.27 during midday trading on Thursday, reaching $8.45. 332,321 shares of the stock were exchanged, compared to its average volume of 244,333. EverCommerce has a 1 year low of $7.66 and a 1 year high of $12.34. The firm has a market cap of $1.52 billion, a PE ratio of -844.16, a price-to-earnings-growth ratio of 4.39 and a beta of 1.05. The company’s 50 day moving average is $11.12 and its two-hundred day moving average is $10.76. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.71.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 5,666 shares of EverCommerce stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.37, for a total value of $64,422.42. Following the completion of the sale, the chief executive officer directly owned 2,973,524 shares in the company, valued at approximately $33,808,967.88. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 25,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $11.38, for a total transaction of $284,500.00. Following the transaction, the president owned 2,148,295 shares in the company, valued at $24,447,597.10. This represents a 1.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 229,200 shares of company stock worth $2,601,485. Company insiders own 10.40% of the company’s stock.

Institutional Trading of EverCommerce

A number of large investors have recently made changes to their positions in EVCM. Federated Hermes Inc. lifted its position in EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after purchasing an additional 1,667 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of EverCommerce in the 3rd quarter worth $91,000. Deutsche Bank AG boosted its stake in shares of EverCommerce by 141.9% in the 1st quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock worth $99,000 after buying an additional 5,770 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of EverCommerce in the first quarter worth $102,000. Finally, R Squared Ltd purchased a new stake in EverCommerce during the third quarter valued at $122,000. 97.91% of the stock is currently owned by institutional investors.

About EverCommerce

(Get Free Report)

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.

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