EverCommerce (NASDAQ:EVCM) Downgraded to “Neutral” at Piper Sandler

Piper Sandler downgraded shares of EverCommerce (NASDAQ:EVCMGet Rating) from an overweight rating to a neutral rating in a report published on Monday, MarketBeat reports. Piper Sandler currently has $9.00 price target on the stock, down from their previous price target of $11.00.

A number of other brokerages have also recently commented on EVCM. Canaccord Genuity Group decreased their price target on EverCommerce from $17.00 to $12.00 and set a buy rating on the stock in a research report on Friday, November 11th. Raymond James decreased their target price on EverCommerce from $15.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, November 11th. Canaccord Genuity Group decreased their target price on EverCommerce from $17.00 to $12.00 in a research report on Friday, November 11th. Deutsche Bank Aktiengesellschaft decreased their target price on EverCommerce from $16.00 to $12.00 in a research report on Friday, November 11th. Finally, Barclays reduced their price target on EverCommerce from $17.00 to $9.00 and set an equal weight rating on the stock in a report on Friday, November 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of 12.79.

EverCommerce Stock Down 5.6 %

Shares of NASDAQ EVCM opened at 6.23 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85. EverCommerce has a 52 week low of 5.93 and a 52 week high of 18.66. The stock has a market capitalization of $1.20 billion, a P/E ratio of -25.96, a PEG ratio of 0.80 and a beta of 1.33. The stock’s fifty day moving average is 9.35 and its 200 day moving average is 10.06.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 2,611 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of 11.17, for a total transaction of 29,164.87. Following the completion of the sale, the chief executive officer now owns 1,407,335 shares in the company, valued at 15,719,931.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 6,318 shares of company stock valued at $70,572. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Several institutional investors have recently bought and sold shares of EVCM. Vanguard Group Inc. grew its stake in EverCommerce by 603.8% in the 1st quarter. Vanguard Group Inc. now owns 2,493,476 shares of the company’s stock valued at $32,914,000 after purchasing an additional 2,139,198 shares during the period. BlackRock Inc. lifted its position in shares of EverCommerce by 55.2% during the 1st quarter. BlackRock Inc. now owns 1,551,990 shares of the company’s stock valued at $20,485,000 after buying an additional 551,952 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in EverCommerce by 320.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 237,879 shares of the company’s stock worth $2,151,000 after purchasing an additional 181,331 shares in the last quarter. Bank of Montreal Can purchased a new stake in EverCommerce during the 1st quarter worth about $2,153,000. Finally, Goldman Sachs Group Inc. lifted its holdings in EverCommerce by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,349,469 shares of the company’s stock worth $17,813,000 after purchasing an additional 140,260 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

EverCommerce Company Profile

(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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Analyst Recommendations for EverCommerce (NASDAQ:EVCM)

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