EverCommerce Inc. (NASDAQ:EVCM) Receives $11.09 Average Price Target from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $11.09.

Several research firms have issued reports on EVCM. Oppenheimer cut their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Barclays decreased their price target on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Royal Bank of Canada dropped their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Piper Sandler decreased their price objective on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, The Goldman Sachs Group dropped their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 14th.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,026 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.94, for a total value of $76,864.44. Following the completion of the transaction, the chief executive officer now directly owns 7,758,632 shares of the company’s stock, valued at approximately $84,879,434.08. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Matthew David Feierstein sold 21,624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.13, for a total transaction of $219,051.12. Following the sale, the president now directly owns 2,370,628 shares in the company, valued at $24,014,461.64. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,812 shares of company stock worth $2,626,554 over the last three months. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after purchasing an additional 2,040 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of EverCommerce in the fourth quarter valued at approximately $29,000. Wells Fargo & Company MN raised its stake in shares of EverCommerce by 41.7% during the 4th 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 during the period. Finally, Barclays PLC lifted its position in shares of EverCommerce by 11.2% during the 4th quarter. Barclays PLC now owns 32,989 shares of the company’s stock valued at $363,000 after buying an additional 3,312 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Stock Down 0.3 %

Shares of NASDAQ EVCM opened at $9.97 on Friday. EverCommerce has a 12-month low of $8.10 and a 12-month high of $12.35. The stock’s fifty day simple moving average is $9.90 and its two-hundred day simple moving average is $10.61. The stock has a market capitalization of $1.83 billion, a PE ratio of -35.61 and a beta of 1.07. 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 posted its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. EverCommerce’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS. As a group, analysts expect that EverCommerce will post -0.17 EPS for the current fiscal year.

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.