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

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $11.09.

Several research firms have recently issued reports on EVCM. Barclays lowered their target price on shares of 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 target on EverCommerce from $12.00 to $10.00 and set a "hold" rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group cut their price objective on EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 14th. Piper Sandler decreased their target price on EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, Oppenheimer cut their price target on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, March 14th.

EverCommerce Stock Performance

Shares of NASDAQ:EVCM remained flat at $9.97 on Friday. 112,263 shares of the company's stock were exchanged, compared to its average volume of 134,858. The business has a 50-day moving average price of $9.90 and a 200-day moving average price of $10.61. 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 company has a market cap of $1.83 billion, a P/E ratio of -35.61 and a beta of 1.07. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) earnings per share. On average, equities research analysts forecast that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 13,856 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $10.81, for a total value of $149,783.36. Following the completion of the sale, the chief executive officer now directly owns 7,783,096 shares of the company's stock, valued at approximately $84,135,267.76. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew David Feierstein sold 21,624 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $10.13, for a total transaction of $219,051.12. Following the transaction, the president now directly owns 2,370,628 shares in the company, valued at $24,014,461.64. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,812 shares of company stock worth $2,626,554. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in shares of EverCommerce by 34.6% in the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company's stock valued at $4,716,000 after purchasing an additional 110,183 shares in the last quarter. Woodline Partners LP raised its position in shares of EverCommerce by 24.8% in the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company's stock valued at $5,891,000 after buying an additional 106,359 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 63,139 shares during the period. Raymond James Financial Inc. acquired a new stake in EverCommerce during the fourth quarter worth approximately $694,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in EverCommerce by 84.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company's stock valued at $1,468,000 after acquiring an additional 61,144 shares during the last quarter. 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.