EverCommerce (NASDAQ:EVCM) Given New $10.00 Price Target at Jefferies Financial Group

EverCommerce (NASDAQ:EVCM) had its price target trimmed by Jefferies Financial Group from $12.00 to $10.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also commented on EVCM. Oppenheimer cut their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank of Canada cut their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, EverCommerce has a consensus rating of “Hold” and an average price target of $11.27.

EverCommerce Trading Up 4.6 %

Shares of NASDAQ:EVCM opened at $9.36 on Friday. The company has a 50 day moving average of $10.17 and a 200-day moving average of $10.71. The firm has a market cap of $1.72 billion, a P/E ratio of -33.43 and a beta of 1.12. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35. 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 analyst estimates of $170.48 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 3.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. As a group, analysts anticipate that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the sale, the president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $11.22, for a total transaction of $81,176.70. Following the completion of the transaction, the chief executive officer now owns 7,898,225 shares in the company, valued at approximately $88,618,084.50. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,865 shares of company stock worth $1,950,085 over the last 90 days. 11.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EVCM. RIA Advisory Group LLC acquired a new position in EverCommerce in the 3rd quarter valued at approximately $241,000. Edgestream Partners L.P. acquired a new position in EverCommerce in the 3rd quarter valued at approximately $536,000. Janus Henderson Group PLC increased its stake in EverCommerce by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after buying an additional 3,837 shares during the period. State Street Corp increased its stake in EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after buying an additional 12,156 shares during the period. Finally, Barclays PLC increased its stake in EverCommerce by 305.6% in the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after buying an additional 22,360 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.