Oppenheimer Cuts EverCommerce (NASDAQ:EVCM) Price Target to $12.00

EverCommerce (NASDAQ:EVCM) had its price objective decreased by Oppenheimer from $13.00 to $12.00 in a research report released on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

EverCommerce Stock Performance

NASDAQ EVCM opened at $9.36 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The company has a 50-day simple moving average of $10.17 and a 200 day simple moving average of $10.71. EverCommerce has a 52-week low of $8.10 and a 52-week high of $12.35.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) EPS. On average, research analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,130 shares of EverCommerce stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $11.99, for a total transaction of $85,488.70. Following the completion of the sale, the chief executive officer now directly owns 7,913,929 shares in the company, valued at $94,888,008.71. The trade was a 0.09 % 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 20,401 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total transaction of $220,534.81. Following the completion of the sale, the president now owns 2,217,294 shares of the company’s stock, valued at approximately $23,968,948.14. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,865 shares of company stock worth $1,950,085 over the last three months. 11.60% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp bought a new stake in shares of EverCommerce in the 4th quarter worth approximately $127,000. Woodline Partners LP lifted its holdings in shares of EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock worth $5,891,000 after acquiring an additional 106,359 shares during the last quarter. State of Wyoming lifted its holdings in shares of EverCommerce by 245.4% in the 4th quarter. State of Wyoming now owns 32,875 shares of the company’s stock worth $362,000 after acquiring an additional 23,356 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of EverCommerce in the 4th quarter worth approximately $143,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after acquiring an additional 110,183 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

About EverCommerce

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.