EverCommerce Inc. (NASDAQ:EVCM) Receives $11.36 Average Price Target from Analysts

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) have been given an average recommendation of "Hold" by the eleven analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.36.

EVCM has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Canaccord Genuity Group upped their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 12th. The Goldman Sachs Group reduced their price objective on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 14th. Royal Bank of Canada dropped their price target on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Finally, Jefferies Financial Group dropped their price target on shares of EverCommerce from $12.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, March 14th.

EverCommerce Stock Down 0.1%

Shares of EVCM traded down $0.01 during mid-day trading on Wednesday, reaching $10.05. 184,116 shares of the stock traded hands, compared to its average volume of 137,626. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -35.89 and a beta of 1.07. The stock has a fifty day simple moving average of $10.14 and a 200 day simple moving average of $10.56. EverCommerce has a 12-month low of $8.10 and a 12-month high of $12.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The firm had revenue of $142.27 million for the quarter, compared to analysts' expectations of $146.28 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company's revenue for the quarter was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS. Sell-side analysts expect that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Eric Richard Remer sold 10,117 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the sale, the chief executive officer now owns 7,686,872 shares of the company's stock, valued at approximately $69,566,191.60. The trade was a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Matthew David Feierstein sold 24,300 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $10.02, for a total value of $243,486.00. Following the completion of the sale, the president now directly owns 2,341,006 shares of the company's stock, valued at approximately $23,456,880.12. The trade was a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,500 shares of company stock worth $2,719,142 in the last 90 days. Company insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of EverCommerce by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock valued at $1,856,000 after purchasing an additional 1,092 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of EverCommerce during the fourth quarter worth $694,000. American Century Companies Inc. boosted its holdings in EverCommerce by 32.3% in the fourth quarter. American Century Companies Inc. now owns 22,753 shares of the company's stock valued at $251,000 after acquiring an additional 5,554 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in EverCommerce by 48.6% in the fourth quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company's stock valued at $1,695,000 after acquiring an additional 49,745 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in EverCommerce by 84.7% in the fourth 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. 97.91% of the stock is owned by institutional investors.

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.