Barclays Lowers EverCommerce (NASDAQ:EVCM) Price Target to $9.00

EverCommerce (NASDAQ:EVCM) had its price target reduced by analysts at Barclays from $12.00 to $9.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 5.56% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada dropped their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday. Oppenheimer cut their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Jefferies Financial Group lowered their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.60.

EverCommerce Stock Up 6.5 %

NASDAQ:EVCM traded up $0.58 during trading hours on Friday, reaching $9.53. The company’s stock had a trading volume of 149,032 shares, compared to its average volume of 104,002. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -34.03 and a beta of 1.12. EverCommerce has a one year low of $6.22 and a one year high of $12.35. The business’s 50-day moving average is $10.20 and its 200-day moving average is $10.72.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same period in the prior year, the company posted ($0.12) EPS. The business’s revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Activity

In other news, President Matthew David Feierstein sold 5,513 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $10.07, for a total value of $55,515.91. Following the completion of the transaction, the president now owns 2,187,695 shares in the company, valued at approximately $22,030,088.65. This represents a 0.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $11.22, for a total transaction of $81,176.70. Following the transaction, the chief executive officer now directly owns 7,898,225 shares of the company’s stock, valued at $88,618,084.50. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,748 shares of company stock valued at $1,858,526. Insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVCM. Janus Henderson Group PLC grew its stake in shares of EverCommerce by 34.6% in the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after purchasing an additional 110,183 shares during the period. Woodline Partners LP boosted its stake in EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after buying an additional 106,359 shares in the last quarter. JPMorgan Chase & Co. grew its position in EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after acquiring an additional 63,139 shares during the period. Raymond James Financial Inc. acquired a new position in EverCommerce during the fourth quarter worth $694,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of EverCommerce by 84.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock valued at $1,468,000 after acquiring an additional 61,144 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.