Analysts Set EverCommerce Inc. (NASDAQ:EVCM) Price Target at $11.36

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) have earned a consensus recommendation of "Hold" from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $11.36.

Several analysts have recently issued reports on EVCM shares. Barclays upped their target price on shares of EverCommerce from $9.00 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Piper Sandler decreased their price objective on EverCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Oppenheimer dropped their target price on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Jefferies Financial Group cut their target price on EverCommerce from $12.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, March 14th. Finally, Royal Bank Of Canada lowered their price target on EverCommerce from $14.00 to $11.00 and set an "outperform" rating for the company in a research report on Friday, March 14th.

EverCommerce Stock Down 0.5%

EverCommerce stock traded down $0.05 during midday trading on Friday, reaching $10.07. 190,285 shares of the stock traded hands, compared to its average volume of 133,543. The stock's fifty day moving average is $10.08 and its 200-day moving average is $10.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.29. EverCommerce has a 12 month low of $8.10 and a 12 month high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). EverCommerce had a negative net margin of 4.84% and a negative return on equity of 3.13%. The firm had revenue of $142.27 million for the quarter, compared to the consensus estimate of $146.28 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm's revenue was down 16.3% compared to the same quarter last year. As a group, analysts predict that EverCommerce will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Matthew David Feierstein sold 24,300 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $10.02, for a total value of $243,486.00. Following the transaction, the president now owns 2,341,006 shares of the company's stock, valued at $23,456,880.12. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Richard Remer sold 4,455 shares of EverCommerce stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $9.51, for a total value of $42,367.05. Following the sale, the chief executive officer now directly owns 5,389,163 shares of the company's stock, valued at approximately $51,250,940.13. This trade represents a 0.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,415 shares of company stock worth $2,260,250 over the last quarter. Company insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in EverCommerce in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC raised its holdings in shares of EverCommerce by 145.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after purchasing an additional 2,040 shares in the last quarter. Deutsche Bank AG lifted its position in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after purchasing an additional 3,667 shares during the period. EntryPoint Capital LLC bought a new position in shares of EverCommerce during the first quarter valued at approximately $102,000. Finally, Wells Fargo & Company MN raised its stake in EverCommerce by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after buying an additional 3,106 shares in the last quarter. Institutional investors 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.