EverCommerce (NASDAQ:EVCM) Price Target Raised to $12.00 at Barclays

EverCommerce (NASDAQ:EVCM) had its price objective hoisted by equities researchers at Barclays from $9.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 8.40% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Oppenheimer boosted their target price on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler increased their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Stock Performance

EVCM stock opened at $11.07 on Wednesday. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The company’s 50-day moving average is $10.62 and its 200-day moving average is $10.52. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.68.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts anticipate that EverCommerce will post -0.09 EPS for the current year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the sale, the chief executive officer now directly owns 8,124,163 shares in the company, valued at $86,847,302.47. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 111,377 shares of company stock valued at $1,217,786 over the last 90 days. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in shares of EverCommerce by 673.4% in the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after buying an additional 281,551 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of EverCommerce during the third quarter worth about $570,000. Dimensional Fund Advisors LP increased its holdings in EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after purchasing an additional 95,934 shares during the period. Edgestream Partners L.P. bought a new position in EverCommerce during the 1st quarter valued at approximately $123,000. Finally, Vanguard Group Inc. lifted 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 worth $15,684,000 after buying an additional 30,481 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.