EverCommerce (NASDAQ:EVCM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler has raised its target price for EverCommerce from $9.00 to $10.00, maintaining a "neutral" rating, which indicates a potential downside of 11.59% from the current price.
• Other analysts have given the stock mixed ratings; Canaccord Genuity upgraded its target to $14.00 with a "buy" rating, while Barclays set its target at $11.00 with an "equal weight" rating.
• The company reported a quarterly earnings-per-share (EPS) of $0.03, surpassing analysts' expectations, and its revenue increased by 5.3% year-over-year to $148.02 million.

EverCommerce (NASDAQ:EVCM - Get Free Report) had its target price upped by equities research analysts at Piper Sandler from $9.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price suggests a potential downside of 11.59% from the company's current price.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group lifted their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Barclays raised their target price on shares of EverCommerce from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Oppenheimer reiterated an "outperform" rating and set a $13.00 price target (up from $12.00) on shares of EverCommerce in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.50.

EverCommerce Stock Up 10.1%

NASDAQ:EVCM opened at $11.31 on Friday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -95.13 and a beta of 1.06. EverCommerce has a twelve month low of $8.10 and a twelve month high of $12.34. The stock has a fifty day simple moving average of $10.49 and a 200-day simple moving average of $10.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.70.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. The business had revenue of $148.02 million for the quarter, compared to the consensus estimate of $145.80 million. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.95%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Analysts anticipate that EverCommerce will post -0.17 EPS for the current year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 23,119 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $11.26, for a total value of $260,319.94. Following the transaction, the chief executive officer owned 7,464,044 shares in the company, valued at approximately $84,045,135.44. This trade represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 25,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.53, for a total transaction of $263,250.00. Following the completion of the sale, the president owned 2,270,672 shares of the company's stock, valued at $23,910,176.16. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,444 shares of company stock valued at $2,989,333 in the last three months. Insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently made changes to their positions in EVCM. 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. BNP Paribas Financial Markets purchased a new stake in shares of EverCommerce in the fourth quarter valued at about $29,000. Wells Fargo & Company MN increased its position in EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after purchasing an additional 3,106 shares during the last quarter. Barclays PLC raised its position in shares of EverCommerce by 11.2% during the 4th quarter. Barclays PLC now owns 32,989 shares of the company's stock valued at $363,000 after buying an additional 3,312 shares during the period. Finally, Deutsche Bank AG lifted its holdings in EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after acquiring an additional 3,667 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.

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