EverCommerce Inc. (NASDAQ:EVCM) Receives $11.50 Consensus Target Price from Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $11.50.

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of EverCommerce from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Barclays lifted their target price on shares of EverCommerce from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Zacks Research raised shares of EverCommerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Canaccord Genuity Group lifted their target price on shares of EverCommerce from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $13.00 target price (up from $12.00) on shares of EverCommerce in a report on Thursday, August 7th.

EverCommerce Trading Up 0.6%

Shares of NASDAQ EVCM opened at $11.39 on Friday. EverCommerce has a 1 year low of $8.10 and a 1 year high of $12.34. The stock has a market cap of $2.06 billion, a P/E ratio of -94.91, a price-to-earnings-growth ratio of 9.38 and a beta of 1.06. The firm has a 50-day moving average of $10.98 and a 200 day moving average of $10.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.37 and a quick ratio of 2.37.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $148.02 million during the quarter, compared to analysts’ expectations of $145.80 million. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.96%. EverCommerce’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. As a group, sell-side analysts expect that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 22,139 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.54, for a total transaction of $233,345.06. Following the completion of the transaction, the chief executive officer directly owned 5,220,024 shares of the company’s stock, valued at $55,019,052.96. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matthew David Feierstein sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.53, for a total transaction of $263,250.00. Following the transaction, the president directly owned 2,270,672 shares of the company’s stock, valued at $23,910,176.16. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 305,500 shares of company stock valued at $3,243,844 over the last three months. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EVCM. Wells Fargo & Company MN grew its position in EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after buying an additional 3,106 shares during the period. Raymond James Financial Inc. bought a new stake in EverCommerce during the fourth quarter valued at approximately $694,000. Barclays PLC grew its position in EverCommerce by 11.2% during the fourth quarter. Barclays PLC now owns 32,989 shares of the company’s stock valued at $363,000 after buying an additional 3,312 shares during the period. Tower Research Capital LLC TRC grew its position in EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after buying an additional 2,040 shares during the period. Finally, Northern Trust Corp grew its position in EverCommerce by 4.2% during the fourth quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock valued at $2,194,000 after buying an additional 7,954 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.