Canaccord Genuity Group Lowers EverCommerce (NASDAQ:EVCM) Price Target to $17.00

EverCommerce (NASDAQ:EVCMGet Rating) had its price target lowered by investment analysts at Canaccord Genuity Group from $20.00 to $17.00 in a research report issued on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock.

Several other brokerages also recently commented on EVCM. Stifel Nicolaus reduced their target price on EverCommerce from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 21st. Royal Bank of Canada reduced their price objective on EverCommerce from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, March 15th. Barclays lowered their target price on EverCommerce from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 27th. Oppenheimer reissued a “buy” rating and issued a $18.00 price target on shares of EverCommerce in a research report on Tuesday, March 15th. Finally, Raymond James lowered their price objective on shares of EverCommerce from $24.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, March 15th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EverCommerce currently has an average rating of “Buy” and an average target price of 19.93.

Shares of EVCM stock opened at 10.64 on Tuesday. EverCommerce has a fifty-two week low of 10.17 and a fifty-two week high of 23.41. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of 12.82 and a two-hundred day simple moving average of 14.34.

EverCommerce (NASDAQ:EVCMGet Rating) last released its earnings results on Monday, March 14th. The company reported -0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of 0.07 by -0.08. The company had revenue of 135.65 million for the quarter, compared to the consensus estimate of 130.38 million. On average, analysts forecast that EverCommerce will post 0.25 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new stake in shares of EverCommerce during the third quarter valued at approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of EverCommerce during the 3rd quarter valued at $48,000. Citigroup Inc. bought a new stake in shares of EverCommerce during the 3rd quarter worth $60,000. UBS Group AG purchased a new position in shares of EverCommerce in the 3rd quarter worth about $71,000. Finally, Metropolitan Life Insurance Co NY bought a new position in EverCommerce during the third quarter valued at about $89,000. 87.59% of the stock is owned by institutional investors.

EverCommerce Company Profile (Get Rating)

EverCommerce Inc, together with its subsidiaries, engages in providing 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, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.

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