JPMorgan Chase & Co. Raises EverCommerce (NASDAQ:EVCM) Price Target to $11.00

EverCommerce (NASDAQ:EVCM) had its price target increased by JPMorgan Chase & Co. from $10.00 to $11.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also recently weighed in on EVCM. Canaccord Genuity Group lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a buy rating in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a buy rating in a research report on Wednesday. Oppenheimer lifted their price target on shares of EverCommerce from $11.00 to $12.00 and gave the company an outperform rating in a research report on Friday, May 10th. Finally, Evercore ISI lifted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an outperform rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $11.45.

EverCommerce Trading Down 2.5 %

Shares of EVCM traded down $0.25 during trading on Wednesday, reaching $9.86. 172,018 shares of the company traded hands, compared to its average volume of 158,528. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35. The stock has a market cap of $1.83 billion, a PE ratio of -46.95 and a beta of 1.10. The stock has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $10.01. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.66.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The company had revenue of $177.39 million for the quarter, compared to analyst estimates of $171.88 million. The company’s revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that EverCommerce will post -0.08 earnings per share for the current year.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 14,502 shares of EverCommerce stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total value of $147,340.32. Following the completion of the transaction, the chief executive officer now owns 1,277,559 shares in the company, valued at $12,979,999.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Marc Christopher Thompson sold 4,701 shares of EverCommerce stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total value of $47,762.16. Following the completion of the transaction, the chief financial officer now owns 1,198,110 shares in the company, valued at $12,172,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Richard Remer sold 14,502 shares of EverCommerce stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $10.16, for a total transaction of $147,340.32. Following the completion of the transaction, the chief executive officer now owns 1,277,559 shares of the company’s stock, valued at approximately $12,979,999.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,299 shares of company stock worth $738,573. Corporate insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake 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 acquiring an additional 30,481 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the last quarter. Great Lakes Advisors LLC lifted its position in shares of EverCommerce by 42.9% during the 4th quarter. Great Lakes Advisors LLC now owns 203,863 shares of the company’s stock worth $2,249,000 after buying an additional 61,236 shares during the last quarter. Bank of New York Mellon Corp lifted 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 last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of EverCommerce by 57.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock worth $512,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other 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.