EverCommerce (NASDAQ:EVCM) Price Target Raised to $12.00

EverCommerce (NASDAQ:EVCM) had its price target raised by Barclays from $9.00 to $12.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other research analysts have also recently issued reports about the company. Oppenheimer boosted their target price on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler boosted their price objective on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Evercore ISI raised their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, EverCommerce has an average rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Stock Up 0.5 %

Shares of EVCM opened at $11.12 on Wednesday. The company’s 50-day simple moving average is $10.64 and its 200-day simple moving average is $10.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.68 and a current ratio of 1.81. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The stock has a market capitalization of $2.04 billion, a PE ratio of -39.71 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last released its 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 business had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company’s revenue was up .9% on a year-over-year basis. Analysts forecast that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 13,200 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.04, for a total transaction of $145,728.00. Following the completion of the sale, the chief executive officer now owns 7,970,481 shares in the company, valued at $87,994,110.24. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 111,377 shares of company stock worth $1,217,786 in the last quarter. 11.60% of the stock is owned by insiders.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of EverCommerce during the third quarter worth about $107,000. Edgestream Partners L.P. acquired a new stake in EverCommerce during the 1st quarter worth approximately $123,000. The Manufacturers Life Insurance Company grew its stake in shares of EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock valued at $182,000 after purchasing an additional 2,700 shares during the period. Finally, RIA Advisory Group LLC purchased a new stake in shares of EverCommerce during the third quarter worth approximately $241,000. 97.91% of the stock is owned by hedge funds and other 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.