Piper Sandler Boosts EverCommerce (NASDAQ:EVCM) Price Target to $11.00

EverCommerce (NASDAQ:EVCM) had its price target hoisted by equities researchers at Piper Sandler from $10.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential downside of 0.63% from the stock’s previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Evercore ISI increased their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Performance

Shares of NASDAQ:EVCM opened at $11.07 on Wednesday. The firm’s 50 day simple moving average is $10.62 and its 200-day simple moving average is $10.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. EverCommerce has a one year low of $6.22 and a one year high of $12.35. The firm has a market cap of $2.04 billion, a PE ratio of -39.53 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.49% and a negative net margin of 7.53%. The firm had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that EverCommerce will post -0.09 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 13,200 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.04, for a total transaction of $145,728.00. Following the sale, the chief executive officer now owns 7,970,481 shares in the company, valued at approximately $87,994,110.24. The trade was a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 111,377 shares of company stock valued at $1,217,786. 11.60% of the stock is currently owned by insiders.

Institutional Trading of EverCommerce

A number of institutional investors have recently bought and sold shares of EVCM. SG Americas Securities LLC purchased a new position in shares of EverCommerce in the third quarter worth $107,000. Edgestream Partners L.P. purchased a new position in EverCommerce in the 1st quarter worth $123,000. The Manufacturers Life Insurance Company lifted its position in EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after acquiring an additional 1,089 shares during the period. Renaissance Technologies LLC grew its stake in EverCommerce by 19.4% during the 2nd 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 last quarter. Finally, RIA Advisory Group LLC acquired a new position in shares of EverCommerce in the third quarter valued at about $241,000. 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.