Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Price Target at $12.56

EverCommerce Inc. (NASDAQ:EVCM) has earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.56.

A number of equities research analysts have commented on EVCM shares. Oppenheimer upped their price target on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities upped their target price on EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Piper Sandler raised their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Barclays upped their price objective on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their target price on shares of EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

EverCommerce Stock Up 1.3 %

Shares of NASDAQ:EVCM opened at $10.31 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. EverCommerce has a 52-week low of $6.22 and a 52-week high of $12.35. The company has a market capitalization of $1.89 billion, a PE ratio of -36.82 and a beta of 1.13. The company has a fifty day moving average of $10.94 and a 200-day moving average of $10.82.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 13,200 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.04, for a total transaction of $145,728.00. Following the transaction, the chief executive officer now directly owns 7,970,481 shares in the company, valued at approximately $87,994,110.24. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 2,888 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $10.01, for a total transaction of $28,908.88. Following the completion of the sale, the president now owns 2,209,807 shares of the company’s stock, valued at approximately $22,120,168.07. This represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,858 shares of company stock worth $2,119,929 in the last ninety days. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently added to or reduced their stakes in EVCM. Barclays PLC grew its holdings in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after acquiring an additional 22,360 shares in the last quarter. JPMorgan Chase & Co. grew its position in EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after buying an additional 63,139 shares during the period. Millennium Management LLC increased its holdings in EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after buying an additional 281,551 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in EverCommerce during the third quarter worth about $570,000. Finally, Dimensional Fund Advisors LP raised its position in 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 period. 97.91% of the stock is owned by institutional investors.

EverCommerce Company Profile

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.