The Goldman Sachs Group Cuts EverCommerce (NASDAQ:EVCM) Price Target to $8.00

EverCommerce (NASDAQ:EVCM) had its price objective lowered by The Goldman Sachs Group from $9.00 to $8.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

A number of other brokerages have also issued reports on EVCM. Oppenheimer decreased their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Barclays decreased their price target on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday. Jefferies Financial Group decreased their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Friday. Finally, Royal Bank of Canada decreased their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.27.

EverCommerce Stock Performance

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

EverCommerce (NASDAQ:EVCM) last issued 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 business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. On average, equities research analysts anticipate that EverCommerce will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other news, President Matthew David Feierstein sold 20,401 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the completion of the sale, the president now owns 2,217,294 shares in the company, valued at $23,968,948.14. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Richard Remer sold 5,117 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.39, for a total value of $53,165.63. Following the completion of the sale, the chief executive officer now owns 7,862,366 shares of the company’s stock, valued at $81,689,982.74. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,865 shares of company stock valued at $1,950,085 in the last three months. 11.60% of the stock is currently owned by corporate insiders.

Institutional Trading of EverCommerce

A number of hedge funds have recently modified their holdings of EVCM. RIA Advisory Group LLC purchased a new stake in shares of EverCommerce in the third quarter valued at $241,000. Edgestream Partners L.P. purchased a new stake in shares of EverCommerce during the third quarter worth $536,000. Janus Henderson Group PLC raised its holdings in shares of EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after acquiring an additional 3,837 shares in the last quarter. State Street Corp raised its holdings in shares of EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after acquiring an additional 12,156 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after acquiring an additional 22,360 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.