EverCommerce (NASDAQ:EVCM) Price Target Lowered to $8.00 at The Goldman Sachs Group

EverCommerce (NASDAQ:EVCM) had its target price dropped by stock analysts at The Goldman Sachs Group from $9.00 to $8.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 15.92% from the stock’s current price.

Several other research analysts also recently commented on EVCM. Barclays lowered their price objective on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday. Royal Bank of Canada reduced their price objective on EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday. Oppenheimer lowered their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Jefferies Financial Group dropped their target price on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.27.

EverCommerce Price Performance

EverCommerce stock traded up $0.57 during mid-day trading on Friday, reaching $9.52. 156,497 shares of the company were exchanged, compared to its average volume of 137,001. The firm has a market cap of $1.75 billion, a PE ratio of -33.93 and a beta of 1.12. 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 fifty day simple moving average of $10.20 and a 200-day simple moving average of $10.72. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results 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 return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 9,404 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.06, for a total value of $85,200.24. Following the transaction, the chief executive officer now directly owns 7,707,226 shares in the company, valued at $69,827,467.56. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total transaction of $28,908.88. Following the sale, the president now owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. This trade represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,748 shares of company stock valued at $1,858,526. 11.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in EverCommerce during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC boosted its holdings in EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock worth $38,000 after purchasing an additional 2,040 shares during the last quarter. Deutsche Bank AG grew its position in EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock worth $45,000 after purchasing an additional 3,667 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of EverCommerce by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock worth $116,000 after buying an additional 3,106 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of EverCommerce during the 4th quarter worth approximately $119,000. 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.