Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Target Price at $11.50

EverCommerce Inc. (NASDAQ:EVCM) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.50.

A number of brokerages have recently commented on EVCM. Barclays lifted their price target 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. Canaccord Genuity Group lifted their price target on shares of EverCommerce from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Oppenheimer reiterated an “outperform” rating and set a $13.00 price target (up previously from $12.00) on shares of EverCommerce in a report on Thursday, August 7th. Finally, Piper Sandler lifted their price target on shares of EverCommerce from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 8th.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 22,139 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.54, for a total value of $233,345.06. Following the transaction, the chief executive officer owned 5,220,024 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew David Feierstein sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the president owned 2,270,672 shares in the company, valued at approximately $23,910,176.16. The trade was a 1.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,929 shares of company stock worth $2,937,588. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of EverCommerce by 328.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock valued at $7,502,000 after purchasing an additional 547,712 shares during the period. Woodline Partners LP raised its stake in EverCommerce by 4.7% during the 1st quarter. Woodline Partners LP now owns 560,506 shares of the company’s stock worth $5,650,000 after buying an additional 25,412 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in EverCommerce during the 2nd quarter worth approximately $5,039,000. Janus Henderson Group PLC raised its stake in EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after buying an additional 110,183 shares during the period. Finally, Northern Trust Corp raised its stake in EverCommerce by 4.2% during the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock worth $2,194,000 after buying an additional 7,954 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Stock Performance

NASDAQ EVCM opened at $10.82 on Monday. The firm’s fifty day moving average price is $10.56 and its two-hundred day moving average price is $10.27. The stock has a market cap of $1.96 billion, a PE ratio of -90.16, a PEG ratio of 8.91 and a beta of 1.06. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.37 and a current ratio of 2.37.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $148.02 million for 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%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities 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.