EverCommerce (NASDAQ:EVCM) Price Target Raised to $14.00

EverCommerce (NASDAQ:EVCM - Get Free Report) had its price objective raised by investment analysts at Canaccord Genuity Group from $13.00 to $14.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 30.72% from the company's previous close.

A number of other brokerages also recently issued reports on EVCM. Jefferies Financial Group decreased their price target on EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a report on Friday, March 14th. Barclays reduced their target price on EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. Piper Sandler reduced their target price on EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group reduced their target price on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 14th. Finally, Oppenheimer reduced their target price on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $11.36.

EverCommerce Stock Performance

NASDAQ:EVCM traded down $0.42 during trading hours on Monday, reaching $10.71. The company had a trading volume of 195,927 shares, compared to its average volume of 135,773. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35. The firm has a market cap of $1.96 billion, a PE ratio of -38.25 and a beta of 1.07. The business's 50 day moving average price is $10.04 and its 200-day moving average price is $10.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced 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). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $142.27 million during the quarter, compared to analyst estimates of $146.28 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The company's revenue was down 16.3% compared to the same quarter last year. Research analysts forecast that EverCommerce will post -0.17 EPS for the current year.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 8,963 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $10.02, for a total value of $89,809.26. Following the completion of the transaction, the president now directly owns 2,408,089 shares of the company's stock, valued at approximately $24,129,051.78. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 10,117 shares of the company's stock in a transaction on Thursday, March 13th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,936 shares of company stock valued at $2,926,232. 11.60% of the stock is owned by insiders.

Institutional Trading of EverCommerce

Several large investors have recently added to or reduced their stakes in EVCM. BNP Paribas Financial Markets purchased a new stake in EverCommerce in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC grew its holdings in 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 buying an additional 2,040 shares in the last quarter. Deutsche Bank AG grew its holdings in EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after buying an additional 3,667 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in EverCommerce in the 1st quarter valued at $102,000. Finally, Wells Fargo & Company MN grew its holdings in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock valued at $116,000 after buying an additional 3,106 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.