EverCommerce (NASDAQ:EVCM) Given New $11.00 Price Target at Royal Bank of Canada

EverCommerce (NASDAQ:EVCM) had its target price cut by investment analysts at Royal Bank of Canada from $14.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 17.52% from the stock’s previous close.

Separately, Oppenheimer dropped their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EverCommerce presently has a consensus rating of “Hold” and a consensus target price of $11.27.

EverCommerce Stock Up 4.6 %

Shares of NASDAQ:EVCM opened at $9.36 on Friday. The business’s 50 day moving average is $10.17 and its 200 day moving average is $10.71. EverCommerce has a 12-month low of $8.10 and a 12-month high of $12.35. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 6.56% and a negative net margin of 7.53%. EverCommerce’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. On average, sell-side analysts forecast that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric Richard Remer sold 10,117 shares of EverCommerce stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the transaction, the chief executive officer now owns 7,686,872 shares in the company, valued at $69,566,191.60. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 directly owns 2,217,294 shares in the company, valued at approximately $23,968,948.14. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 188,865 shares of company stock valued at $1,950,085. 11.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently bought and sold shares of EVCM. Mackenzie Financial Corp purchased a new position in shares of EverCommerce in the fourth quarter valued at $127,000. Woodline Partners LP increased its position in shares of EverCommerce by 24.8% during the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after buying an additional 106,359 shares during the period. State of Wyoming increased its position in shares of EverCommerce by 245.4% during the fourth quarter. State of Wyoming now owns 32,875 shares of the company’s stock valued at $362,000 after buying an additional 23,356 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of EverCommerce in the fourth quarter worth about $143,000. Finally, Janus Henderson Group PLC boosted its position in shares of EverCommerce by 34.6% in the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after acquiring an additional 110,183 shares during the period. Institutional investors own 97.91% of the company’s stock.

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.