EverCommerce (NASDAQ:EVCM) Price Target Raised to $14.00

EverCommerce (NASDAQ:EVCM) had its price target lifted by Royal Bank of Canada from $12.00 to $14.00 in a research report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

EVCM has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Oppenheimer upped their price target on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their target price on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Evercore ISI increased their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EverCommerce has a consensus rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Stock Performance

Shares of NASDAQ EVCM traded down $0.17 during trading hours on Wednesday, reaching $10.97. The stock had a trading volume of 7,664 shares, compared to its average volume of 140,528. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -39.78 and a beta of 1.07. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35. The business’s fifty day moving average is $10.60 and its two-hundred day moving average is $10.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.49%. The business had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts expect that EverCommerce will post -0.09 EPS for the current year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 10,311 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $10.69, for a total value of $110,224.59. Following the completion of the sale, the chief executive officer now owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 89,310 shares of company stock worth $965,566 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently made changes to their positions in EVCM. Vanguard Group Inc. increased its position in EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after purchasing an additional 30,481 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of EverCommerce by 39.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after purchasing an additional 95,934 shares during the last quarter. Millennium Management LLC boosted its stake in shares of EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after purchasing an additional 281,551 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of EverCommerce by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after buying an additional 9,595 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of EverCommerce by 394.8% during the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after buying an additional 44,378 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.