EverCommerce (NASDAQ:EVCM) Given New $11.00 Price Target at Barclays

EverCommerce (NASDAQ:EVCM) had its price target increased by Barclays from $9.00 to $11.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group cut 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. Royal Bank of Canada reduced their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Jefferies Financial Group dropped their target price on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Piper Sandler cut their price target on EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Canaccord Genuity Group lifted their price objective on EverCommerce from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, EverCommerce presently has a consensus rating of “Hold” and an average price target of $11.36.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $10.71 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a 50 day simple moving average of $10.04 and a 200 day simple moving average of $10.62. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The firm has a market cap of $1.96 billion, a P/E ratio of -38.25 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $142.27 million during the quarter, compared to analyst estimates of $146.28 million. During the same period last year, the business posted ($0.09) earnings per share. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. Sell-side analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 24,300 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $10.02, for a total transaction of $243,486.00. Following the sale, the president now directly owns 2,341,006 shares in the company, valued at approximately $23,456,880.12. This trade represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa E. Storey sold 9,574 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $11.23, for a total transaction of $107,516.02. Following the completion of the transaction, the insider now owns 214,593 shares of the company’s stock, valued at $2,409,879.39. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,216 shares of company stock worth $2,832,056 in the last quarter. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently added to or reduced their stakes in EVCM. Janus Henderson Group PLC lifted its holdings in shares of EverCommerce by 34.6% in the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after purchasing an additional 110,183 shares in the last quarter. Woodline Partners LP raised its position in EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after buying an additional 106,359 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in EverCommerce by 161.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after acquiring an additional 63,139 shares in the last quarter. Raymond James Financial Inc. acquired a new position in EverCommerce during the 4th quarter worth approximately $694,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in EverCommerce by 84.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock worth $1,468,000 after acquiring an additional 61,144 shares during the last quarter. Institutional investors 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.