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

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) has been given an average recommendation of "Hold" by the eleven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.36.

A number of equities analysts have issued reports on EVCM shares. Oppenheimer cut their price target on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group boosted their target price on EverCommerce from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. 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 note on Friday, March 14th. Royal Bank of Canada cut their target price on EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Finally, Barclays boosted their target price on EverCommerce from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th.

Insider Buying and Selling

In other EverCommerce news, President Matthew David Feierstein sold 8,963 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $10.02, for a total transaction of $89,809.26. Following the sale, the president now owns 2,408,089 shares of the company's stock, valued at $24,129,051.78. The trade was a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Richard Remer sold 12,272 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $10.05, for a total transaction of $123,333.60. Following the sale, the chief executive officer now directly owns 5,439,588 shares in the company, valued at $54,667,859.40. The trade was a 0.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 294,000 shares of company stock valued at $2,964,323. 11.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of EverCommerce during the 4th quarter valued at $29,000. Tower Research Capital LLC TRC grew its position in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock worth $38,000 after acquiring an additional 2,040 shares in the last quarter. Deutsche Bank AG grew its position in EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after acquiring an additional 3,667 shares in the last quarter. GAMMA Investing LLC grew its position in EverCommerce by 838.8% in the first quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after acquiring an additional 6,358 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in EverCommerce in the first quarter worth $102,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Stock Down 0.3%

Shares of EVCM traded down $0.03 during trading hours on Wednesday, hitting $10.02. The stock had a trading volume of 224,405 shares, compared to its average volume of 137,617. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a 50 day simple moving average of $10.12 and a 200-day simple moving average of $10.52. The firm has a market capitalization of $1.83 billion, a P/E ratio of -35.78 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 released its quarterly earnings results 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 company had revenue of $142.27 million for the quarter, compared to analyst estimates of $146.28 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 down 16.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Sell-side analysts predict that EverCommerce will post -0.17 EPS for the current fiscal 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.