EverCommerce (NASDAQ:EVCM) PT Raised to $11.00 at Evercore ISI

EverCommerce (NASDAQ:EVCM) had its price objective lifted by equities research analysts at Evercore ISI from $10.00 to $11.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 8.06% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Oppenheimer upped their price target on shares of EverCommerce from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Canaccord Genuity Group upped their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.36.

EverCommerce Stock Down 3.8 %

NASDAQ:EVCM traded down $0.40 during trading hours on Wednesday, hitting $10.18. 40,981 shares of the stock traded hands, compared to its average volume of 157,634. The firm has a 50 day moving average price of $10.75 and a 200 day moving average price of $10.01. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.66. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -45.67 and a beta of 1.10.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The firm had revenue of $177.39 million for the quarter, compared to analyst estimates of $171.88 million. EverCommerce’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that EverCommerce will post -0.08 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 4,582 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total transaction of $46,553.12. Following the completion of the sale, the president now directly owns 2,305,612 shares in the company, valued at $23,425,017.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Eric Richard Remer sold 3,992 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $11.07, for a total value of $44,191.44. Following the completion of the transaction, the chief executive officer now owns 1,254,286 shares of the company’s stock, valued at $13,884,946.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 4,582 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $10.16, for a total transaction of $46,553.12. Following the completion of the transaction, the president now directly owns 2,305,612 shares of the company’s stock, valued at approximately $23,425,017.92. The disclosure for this sale can be found here. Insiders sold 74,299 shares of company stock worth $738,573 over the last ninety days. Company insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of EverCommerce during the fourth quarter worth approximately $135,000. Edgestream Partners L.P. acquired a new stake in shares of EverCommerce during the first quarter worth approximately $123,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of EverCommerce by 7.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock worth $254,000 after buying an additional 1,500 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in shares of EverCommerce during the first quarter worth approximately $242,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of EverCommerce in the fourth quarter valued at approximately $391,000. 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.