EverCommerce Inc. (NASDAQ:EVCM) Receives $12.44 Consensus Price Target from Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.27.

EVCM has been the topic of a number of research reports. Jefferies Financial Group dropped their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday. Royal Bank of Canada dropped their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays dropped their price target on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday. Oppenheimer dropped their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group dropped their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday.

Insider Activity

In other news, CEO Eric Richard Remer sold 7,130 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $11.99, for a total value of $85,488.70. Following the completion of the transaction, the chief executive officer now directly owns 7,913,929 shares of the company’s stock, valued at $94,888,008.71. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Matthew David Feierstein sold 2,888 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total value of $28,908.88. Following the completion of the transaction, the president now directly owns 2,209,807 shares of the company’s stock, valued at approximately $22,120,168.07. This represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,865 shares of company stock valued at $1,950,085 over the last three months. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after purchasing an additional 22,360 shares during the period. JPMorgan Chase & Co. grew its holdings in EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after purchasing an additional 63,139 shares during the period. Edgestream Partners L.P. bought a new position in EverCommerce during the third quarter valued at $536,000. Janus Henderson Group PLC grew its holdings in EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after purchasing an additional 3,837 shares during the period. Finally, State Street Corp boosted its holdings in shares of EverCommerce by 2.4% in the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after acquiring an additional 12,156 shares during the period. 97.91% of the stock is owned by institutional investors.

EverCommerce Stock Performance

EVCM stock opened at $9.36 on Friday. The stock has a 50-day moving average price of $10.17 and a 200-day moving average price of $10.71. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35. 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 firm has a market cap of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data 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 return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. During the same period last year, the business posted ($0.12) earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

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.