Royal Bank Of Canada Has Lowered Expectations for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target lowered by Royal Bank Of Canada from $13.00 to $12.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 28.34% from the company’s previous close.

A number of other research analysts have also recently issued reports on EVCM. Piper Sandler raised 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. Lake Street Capital set a $11.00 target price on EverCommerce in a research note on Tuesday, October 14th. Zacks Research downgraded EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a report on Wednesday, October 8th. Finally, Barclays downgraded EverCommerce from an “overweight” rating to an “equal weight” rating and set a $11.00 target price for the company. in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.56.

EverCommerce Price Performance

Shares of NASDAQ EVCM opened at $9.35 on Friday. EverCommerce has a fifty-two week low of $7.66 and a fifty-two week high of $12.34. The company has a market cap of $1.69 billion, a PE ratio of -934.07, a P/E/G ratio of 5.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.37 and a current ratio of 2.37. The business has a 50-day simple moving average of $11.40 and a two-hundred day simple moving average of $10.82.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $148.02 million during the quarter, compared to analyst estimates of $145.80 million. EverCommerce had a negative net margin of 0.11% and a positive return on equity of 0.04%. EverCommerce’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, equities analysts expect that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Activity

In other EverCommerce news, President Matthew David Feierstein sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the transaction, the president directly owned 2,211,383 shares of the company’s stock, valued at approximately $24,855,944.92. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Richard Remer sold 22,139 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.54, for a total value of $233,345.06. Following the completion of the sale, the chief executive officer owned 5,220,024 shares in the company, valued at approximately $55,019,052.96. This represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 262,600 shares of company stock valued at $2,956,358. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Several large investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after buying an additional 1,667 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in EverCommerce in the third quarter valued at $91,000. Deutsche Bank AG raised its position in shares of EverCommerce by 141.9% in the first quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock worth $99,000 after acquiring an additional 5,770 shares during the period. EntryPoint Capital LLC acquired a new position in shares of EverCommerce in the first quarter worth about $102,000. Finally, Prudential Financial Inc. boosted its stake in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.