EverCommerce (NASDAQ:EVCM) Price Target Raised to $12.00 at Barclays

EverCommerce (NASDAQ:EVCM) had its price target lifted by Barclays from $9.00 to $12.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts have also issued reports on the stock. Oppenheimer boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their target price on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler upped their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Price Performance

Shares of EVCM opened at $11.12 on Wednesday. The firm has a fifty day simple moving average of $10.64 and a two-hundred day simple moving average of $10.54. The firm has a market cap of $2.04 billion, a PE ratio of -39.71 and a beta of 1.07. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.68. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that EverCommerce will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 13,200 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.04, for a total transaction of $145,728.00. Following the completion of the transaction, the chief executive officer now directly owns 7,970,481 shares of the company’s stock, valued at approximately $87,994,110.24. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 111,377 shares of company stock valued at $1,217,786. Corporate insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

Several hedge funds have recently bought and sold shares of EVCM. SG Americas Securities LLC purchased a new position in shares of EverCommerce during the third quarter valued at about $107,000. The Manufacturers Life Insurance Company grew its holdings in EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after buying an additional 1,089 shares in the last quarter. Edgestream Partners L.P. bought a new stake in EverCommerce in the 1st quarter worth approximately $123,000. Renaissance Technologies LLC increased its stake in EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after acquiring an additional 2,700 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of EverCommerce during the 3rd quarter valued at approximately $241,000. 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.