Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Target Price at $11.45

EverCommerce Inc. (NASDAQ:EVCM) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.45.

EVCM has been the subject of several recent analyst reports. Evercore ISI increased their price target on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th.

EverCommerce Stock Up 1.8 %

EverCommerce stock opened at $10.71 on Friday. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -46.57 and a beta of 1.08. The company’s 50 day simple moving average is $10.44 and its 200 day simple moving average is $10.36.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The firm had revenue of $177.39 million during the quarter, compared to analyst estimates of $171.88 million. EverCommerce’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that EverCommerce will post -0.09 EPS for the current year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 5,065 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $10.57, for a total value of $53,537.05. Following the transaction, the chief executive officer now owns 8,050,475 shares in the company, valued at approximately $85,093,520.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 60,298 shares of company stock worth $633,516. 11.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EVCM. Millennium Management LLC raised its stake in EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after buying an additional 95,934 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in EverCommerce during the third quarter worth approximately $570,000. AQR Capital Management LLC increased its stake in EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after acquiring an additional 44,378 shares during the period. Finally, Vanguard Group Inc. raised its holdings in EverCommerce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after acquiring an additional 30,481 shares in the last quarter. 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.