Piper Sandler Issues Pessimistic Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its target price decreased by Piper Sandler from $11.00 to $9.00 in a report published on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research firms also recently commented on EVCM. Oppenheimer cut their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Jefferies Financial Group decreased their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Barclays decreased their price target on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Royal Bank of Canada decreased their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, The Goldman Sachs Group cut their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.09.

EverCommerce Trading Up 0.4 %

Shares of EverCommerce stock opened at $10.02 on Monday. The firm has a market capitalization of $1.84 billion, a PE ratio of -35.78 and a beta of 1.12. EverCommerce has a twelve month low of $8.10 and a twelve month high of $12.35. The firm’s 50-day moving average price is $10.13 and its 200 day moving average price is $10.70. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, sell-side analysts predict that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other news, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the transaction, the president now directly owns 2,217,294 shares in the company, valued at $23,968,948.14. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric Richard Remer sold 7,026 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.94, for a total transaction of $76,864.44. Following the transaction, the chief executive officer now owns 7,758,632 shares in the company, valued at approximately $84,879,434.08. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,300 shares of company stock worth $2,031,916. 11.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in EverCommerce during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC boosted its holdings in EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock worth $38,000 after buying an additional 2,040 shares in the last quarter. Deutsche Bank AG boosted its holdings in EverCommerce by 919.0% during the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock worth $45,000 after buying an additional 3,667 shares in the last quarter. Wells Fargo & Company MN boosted its holdings 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 buying an additional 3,106 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in EverCommerce during the fourth quarter worth about $119,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.