EverCommerce (NASDAQ:EVCM) Price Target Raised to $14.00

EverCommerce (NASDAQ:EVCM) had its target price boosted by Canaccord Genuity Group from $13.00 to $14.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Piper Sandler lowered their price objective on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Royal Bank of Canada lowered their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group lowered their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 14th. Oppenheimer lowered their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Barclays lowered their price objective on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, EverCommerce has a consensus rating of “Hold” and an average target price of $11.36.

EverCommerce Stock Down 3.8%

EVCM opened at $10.71 on Monday. The firm has a 50 day moving average price of $10.04 and a 200 day moving average price of $10.62. The company has a market cap of $1.96 billion, a PE ratio of -38.25 and a beta of 1.07. EverCommerce has a 1 year low of $8.10 and a 1 year high of $12.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $142.27 million for the quarter, compared to analyst estimates of $146.28 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period last year, the company posted ($0.09) EPS. Sell-side analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Activity

In related news, CEO Eric Richard Remer sold 23,119 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $11.26, for a total transaction of $260,319.94. Following the transaction, the chief executive officer now directly owns 7,464,044 shares in the company, valued at $84,045,135.44. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Matthew David Feierstein sold 8,963 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $10.02, for a total value of $89,809.26. Following the transaction, the president now owns 2,408,089 shares in the company, valued at $24,129,051.78. This trade represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 280,216 shares of company stock worth $2,832,056. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Several large investors have recently added to or reduced their stakes in EVCM. Charles Schwab Investment Management Inc. increased its position in EverCommerce by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after buying an additional 1,092 shares during the period. Tower Research Capital LLC TRC increased its position 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 during the period. BNP Paribas Financial Markets acquired a new stake in EverCommerce in the fourth quarter worth $29,000. Wells Fargo & Company MN increased its position in EverCommerce by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock worth $116,000 after buying an additional 3,106 shares during the period. Finally, Barclays PLC increased its position in EverCommerce by 11.2% in the fourth quarter. Barclays PLC now owns 32,989 shares of the company’s stock worth $363,000 after buying an additional 3,312 shares during the period. 97.91% of the stock is currently owned by institutional investors.

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.