Royal Bank of Canada Lowers EverCommerce (NASDAQ:EVCM) Price Target to $11.00

EverCommerce (NASDAQ:EVCM) had its target price dropped by equities research analysts at Royal Bank of Canada from $14.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 15.36% from the company’s current price.

Separately, Oppenheimer reduced their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, EverCommerce currently has an average rating of “Moderate Buy” and a consensus price target of $12.11.

EverCommerce Stock Up 6.5 %

NASDAQ:EVCM traded up $0.59 during trading hours on Friday, reaching $9.54. 105,739 shares of the company traded hands, compared to its average volume of 136,762. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The stock has a market capitalization of $1.75 billion, a P/E ratio of -34.05 and a beta of 1.12. The business’s 50-day moving average price is $10.20 and its two-hundred day moving average price is $10.72. 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 released its quarterly earnings data 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). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts predict that EverCommerce will post -0.17 earnings per share for the current year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 7,235 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $11.22, for a total value of $81,176.70. Following the transaction, the chief executive officer now directly owns 7,898,225 shares of the company’s stock, valued at $88,618,084.50. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew David Feierstein sold 2,888 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $10.01, for a total transaction of $28,908.88. Following the sale, the president now directly owns 2,209,807 shares in the company, valued at approximately $22,120,168.07. The trade was a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,748 shares of company stock valued at $1,858,526 in the last 90 days. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RIA Advisory Group LLC purchased a new stake in EverCommerce during the 3rd quarter valued at about $241,000. Edgestream Partners L.P. purchased a new position in shares of EverCommerce during the 3rd quarter worth $536,000. Janus Henderson Group PLC boosted its position in shares of EverCommerce by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after acquiring an additional 3,837 shares during the last quarter. State Street Corp increased its position in shares of EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after purchasing an additional 12,156 shares during the last quarter. Finally, Barclays PLC lifted its position in EverCommerce by 305.6% in the third 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 last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.