Analysts Set EverCommerce Inc. (NASDAQ:EVCM) Price Target at $11.09

EverCommerce Inc. (NASDAQ:EVCM) has been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.09.

EVCM has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada decreased their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Barclays lowered their price target on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Jefferies Financial Group reduced their price objective on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, March 14th. Finally, Piper Sandler lowered their target price on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 17th.

EverCommerce Trading Down 5.7 %

Shares of NASDAQ EVCM opened at $9.93 on Tuesday. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -35.46 and a beta of 1.06. The business’s 50 day moving average price is $10.07 and its 200-day moving average price is $10.65.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. 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 company earned ($0.12) EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 5,713 shares of EverCommerce stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $10.15, for a total value of $57,986.95. Following the transaction, the chief executive officer now owns 7,880,059 shares of the company’s stock, valued at $79,982,598.85. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction that occurred 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. This trade represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,609 shares of company stock valued at $2,653,085. 11.60% of the stock is currently owned by corporate insiders.

Institutional Trading of EverCommerce

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in EverCommerce by 838.8% during the 1st quarter. GAMMA Investing LLC now owns 7,116 shares of the company’s stock valued at $706,000 after buying an additional 6,358 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of EverCommerce during the fourth quarter worth about $127,000. Woodline Partners LP increased its holdings in shares of EverCommerce by 24.8% during the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after acquiring an additional 106,359 shares in the last quarter. State of Wyoming raised its position in shares of EverCommerce by 245.4% in the 4th quarter. State of Wyoming now owns 32,875 shares of the company’s stock valued at $362,000 after purchasing an additional 23,356 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in EverCommerce in the 4th quarter worth approximately $143,000. 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.