Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Price Target at $11.09

EverCommerce Inc. (NASDAQ:EVCM) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.09.

A number of brokerages recently issued reports on EVCM. Oppenheimer decreased 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, March 14th. The Goldman Sachs Group decreased their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 14th. Piper Sandler lowered their price objective on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Barclays reduced their target price on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Finally, Royal Bank of Canada lowered their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 14th.

Insiders Place Their Bets

In other EverCommerce news, President Matthew David Feierstein sold 21,624 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.13, for a total value of $219,051.12. Following the completion of the transaction, the president now owns 2,370,628 shares in the company, valued at $24,014,461.64. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Richard Remer sold 5,713 shares of EverCommerce stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $10.15, for a total transaction of $57,986.95. Following the sale, the chief executive officer now owns 7,880,059 shares in the company, valued at $79,982,598.85. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,758 shares of company stock worth $2,729,767 over the last ninety days. 11.60% of the stock is owned by company insiders.

Institutional Trading of EverCommerce

Several large investors have recently modified their holdings of EVCM. Janus Henderson Group PLC boosted its holdings in 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 purchasing an additional 110,183 shares during the last quarter. Woodline Partners LP boosted its stake in shares of EverCommerce by 24.8% during the 4th 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 last quarter. JPMorgan Chase & Co. grew its position in shares of EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after buying an additional 63,139 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of EverCommerce in the fourth quarter worth $694,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in EverCommerce by 84.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock valued at $1,468,000 after acquiring an additional 61,144 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Stock Performance

NASDAQ EVCM opened at $10.09 on Tuesday. 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 has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The business has a fifty day moving average of $10.07 and a 200-day moving average of $10.64. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -36.03 and a beta of 1.06.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. During the same period in the previous year, the firm posted ($0.12) EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

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.