Piper Sandler Cuts EverCommerce (NASDAQ:EVCM) Price Target to $9.00

EverCommerce (NASDAQ:EVCM) had its target price lowered by Piper Sandler from $11.00 to $9.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on EVCM. The Goldman Sachs Group reduced their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday. Barclays reduced their price objective on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday. Royal Bank of Canada reduced their price objective on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday. Jefferies Financial Group reduced their price objective on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday. Finally, Oppenheimer reduced their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.09.

EverCommerce Trading Up 6.5 %

EVCM opened at $9.97 on Monday. The stock has a market cap of $1.83 billion, a PE ratio of -35.61 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. The business has a 50 day moving average of $10.15 and a 200-day 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 released its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $175.00 million during 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%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. Equities research analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 7,235 shares of EverCommerce stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $11.22, for a total value of $81,176.70. Following the completion of the sale, the chief executive officer now owns 7,898,225 shares of the company’s stock, valued at $88,618,084.50. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Matthew David Feierstein sold 2,888 shares of EverCommerce stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total value of $28,908.88. Following the completion of the sale, the president now directly owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. The trade was a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,735 shares of company stock valued at $1,864,596 over the last 90 days. Company insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Woodline Partners LP lifted its position in 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 purchasing an additional 106,359 shares in the last quarter. State Street Corp lifted its position in EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after purchasing an additional 12,156 shares in the last quarter. Janus Henderson Group PLC lifted its position in EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after purchasing an additional 110,183 shares in the last quarter. Northern Trust Corp lifted its position in EverCommerce by 4.2% during the fourth quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock valued at $2,194,000 after purchasing an additional 7,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other 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.