EverCommerce (NASDAQ:EVCM) Stock Price Expected to Rise, Oppenheimer Analyst Says

EverCommerce (NASDAQ:EVCM) had its target price upped by equities research analysts at Oppenheimer from $12.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 17.54% from the company’s previous close.

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

EverCommerce Stock Performance

Shares of EVCM stock traded down $0.01 during trading hours on Wednesday, hitting $11.06. 12,734 shares of the company’s stock traded hands, compared to its average volume of 140,624. The stock’s fifty day simple moving average is $10.62 and its two-hundred day simple moving average is $10.52. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35. 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 earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that EverCommerce will post -0.09 EPS for the current year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 13,200 shares of EverCommerce stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $11.04, for a total value of $145,728.00. Following the completion of the sale, the chief executive officer now owns 7,970,481 shares of the company’s stock, valued at approximately $87,994,110.24. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 111,377 shares of company stock valued at $1,217,786. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds have recently modified their holdings of EVCM. SG Americas Securities LLC purchased a new stake in shares of EverCommerce in the 3rd quarter worth $107,000. Edgestream Partners L.P. purchased a new stake in shares of EverCommerce in the 1st quarter worth $123,000. The Manufacturers Life Insurance Company increased its stake in shares of EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after purchasing an additional 1,089 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after purchasing an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in shares of EverCommerce in the 3rd quarter worth $241,000. 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.