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

EverCommerce (NASDAQ:EVCM) had its price target reduced by Royal Bank of Canada from $14.00 to $11.00 in a report published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, Oppenheimer cut 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 given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.27.

EverCommerce Stock Up 4.6 %

Shares of EVCM stock opened at $9.36 on Friday. The stock has a 50 day moving average of $10.17 and a 200 day moving average of $10.71. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.72 billion, a P/E ratio of -33.43 and a beta of 1.12. EverCommerce has a twelve month low of $8.10 and a twelve month high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) 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 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts expect that EverCommerce will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total transaction of $28,908.88. Following the transaction, the president now owns 2,209,807 shares of the company’s stock, valued at approximately $22,120,168.07. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the business’s 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 transaction, the chief executive officer now directly owns 7,898,225 shares in the company, valued at $88,618,084.50. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,865 shares of company stock valued at $1,950,085 over the last ninety days. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after buying an additional 22,360 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in 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 during the last quarter. Edgestream Partners L.P. acquired a new position in EverCommerce during the third quarter worth $536,000. Janus Henderson Group PLC boosted its stake in 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 buying an additional 3,837 shares during the last quarter. Finally, State Street Corp boosted its stake in 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 buying an additional 12,156 shares during the last quarter. Institutional investors and hedge funds 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.