Royal Bank of Canada Issues Pessimistic Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target cut by Royal Bank of Canada from $14.00 to $11.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, EverCommerce has a consensus rating of “Hold” and a consensus price target of $11.27.

EverCommerce Price Performance

Shares of NASDAQ:EVCM opened at $9.36 on Friday. The company’s fifty day moving average is $10.17 and its two-hundred day moving average is $10.71. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35. The company has a market cap of $1.72 billion, a P/E ratio of -33.43 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same period last year, the firm earned ($0.12) earnings per share. EverCommerce’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities 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 10,117 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the sale, the chief executive officer now directly owns 7,686,872 shares in the company, valued at approximately $69,566,191.60. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Matthew David Feierstein sold 2,888 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total transaction of $28,908.88. Following the completion of the sale, the president now owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. This represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,865 shares of company stock worth $1,950,085. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of large investors have recently bought and sold shares of EVCM. BNP Paribas Financial Markets bought a new stake in EverCommerce during the fourth quarter valued at about $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 valued at $38,000 after acquiring an additional 2,040 shares during the period. Deutsche Bank AG boosted its holdings in EverCommerce by 919.0% during the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock valued at $45,000 after acquiring an additional 3,667 shares during the period. Wells Fargo & Company MN boosted its holdings in EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after acquiring an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in EverCommerce during the fourth quarter valued at about $119,000. 97.91% of the stock is currently owned by institutional investors.

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.