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

EverCommerce (NASDAQ:EVCM) had its price objective lifted by investment analysts at Oppenheimer from $12.00 to $13.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 8.51% from the stock’s current price.

Several other equities research analysts have also commented on EVCM. Piper Sandler boosted their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Evercore ISI raised their price target on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.56.

EverCommerce Trading Down 1.4 %

NASDAQ:EVCM opened at $11.98 on Wednesday. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a fifty day moving average price of $10.59 and a two-hundred day moving average price of $10.51. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -52.09 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million during the quarter, compared to analysts’ expectations of $174.87 million. EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the transaction, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 89,310 shares of company stock worth $965,566 over the last ninety days. 11.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in EverCommerce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after buying an additional 30,481 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after acquiring an additional 95,934 shares during the last quarter. Millennium Management LLC grew its holdings in EverCommerce by 673.4% in the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after purchasing an additional 281,551 shares during the period. Bank of New York Mellon Corp increased its position in EverCommerce by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after purchasing an additional 9,595 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in EverCommerce by 394.8% during the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after purchasing an additional 44,378 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.