EverCommerce (NASDAQ:EVCM) PT Lowered to $12.00

EverCommerce (NASDAQ:EVCMGet Rating) had its price objective cut by stock analysts at Canaccord Genuity Group from $17.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group initiated coverage on EverCommerce in a research note on Wednesday, October 19th. They set a “sell” rating and a $8.00 target price for the company. Piper Sandler lowered their price objective on EverCommerce from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday. Barclays lowered their price objective on EverCommerce from $17.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday. Oppenheimer reduced their target price on EverCommerce from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Raymond James reduced their target price on EverCommerce from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of 13.29.

EverCommerce Trading Down 16.3 %

Shares of EverCommerce stock opened at 6.95 on Friday. The firm has a 50-day moving average of 9.85 and a 200-day moving average of 10.30. The stock has a market cap of $1.35 billion, a PE ratio of -28.96, a PEG ratio of 0.90 and a beta of 1.33. EverCommerce has a 52-week low of 6.01 and a 52-week high of 20.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.84 and a current ratio of 1.84.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 2,611 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of 11.17, for a total value of 29,164.87. Following the sale, the chief executive officer now directly owns 1,407,335 shares of the company’s stock, valued at 15,719,931.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 6,318 shares of company stock worth $70,572 over the last ninety days. 9.50% of the stock is owned by corporate insiders.

Institutional Trading of EverCommerce

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in EverCommerce by 603.8% in the first quarter. Vanguard Group Inc. now owns 2,493,476 shares of the company’s stock worth $32,914,000 after buying an additional 2,139,198 shares in the last quarter. BlackRock Inc. boosted its stake in shares of EverCommerce by 55.2% in the first quarter. BlackRock Inc. now owns 1,551,990 shares of the company’s stock worth $20,485,000 after acquiring an additional 551,952 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of EverCommerce by 11.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,349,469 shares of the company’s stock worth $17,813,000 after acquiring an additional 140,260 shares during the period. Millennium Management LLC boosted its stake in shares of EverCommerce by 11.1% in the second quarter. Millennium Management LLC now owns 489,332 shares of the company’s stock worth $4,424,000 after acquiring an additional 48,826 shares during the period. Finally, State Street Corp boosted its stake in EverCommerce by 39.5% during the second quarter. State Street Corp now owns 480,094 shares of the company’s stock valued at $4,340,000 after buying an additional 135,890 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About EverCommerce

(Get Rating)

EverCommerce Inc, together with its subsidiaries, engages in providing 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, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.

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