Royal Bank of Canada Raises EverCommerce (NASDAQ:EVCM) Price Target to $12.00

EverCommerce (NASDAQ:EVCM – Get Rating) had its price objective boosted by stock analysts at Royal Bank of Canada from $11.00 to $12.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 17.07% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Evercore ISI decreased their target price on EverCommerce to $11.00 in a research note on Wednesday, November 16th. Barclays lifted their target price on EverCommerce from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on EverCommerce from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, January 23rd. Finally, Piper Sandler restated a “neutral” rating and issued a $9.00 target price on shares of EverCommerce in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.54.

EverCommerce Price Performance

EVCM opened at $10.25 on Thursday. EverCommerce has a 1-year low of $5.87 and a 1-year high of $14.22. The company has a 50-day moving average of $9.74 and a 200-day moving average of $8.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $1.98 billion, a P/E ratio of -42.71, a PEG ratio of 1.18 and a beta of 1.21.

Insider Activity

In other news, CMO Sarah Michelle Jordan sold 3,315 shares of EverCommerce stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $9.58, for a total transaction of $31,757.70. Following the sale, the chief marketing officer now owns 86,960 shares of the company’s stock, valued at $833,076.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CMO Sarah Michelle Jordan sold 3,315 shares of EverCommerce stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $9.58, for a total transaction of $31,757.70. Following the sale, the chief marketing officer now owns 86,960 shares of the company’s stock, valued at $833,076.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Richard Remer sold 15,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $145,299.86. Following the transaction, the chief executive officer now owns 1,389,062 shares in the company, valued at approximately $13,307,213.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,695 shares of company stock valued at $440,763. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EVCM. Vanguard Group Inc. increased its stake in shares of EverCommerce by 603.8% during the first quarter. Vanguard Group Inc. now owns 2,493,476 shares of the company’s stock valued at $32,914,000 after acquiring an additional 2,139,198 shares during the period. BlackRock Inc. increased its stake in shares of EverCommerce by 55.2% during the first quarter. BlackRock Inc. now owns 1,551,990 shares of the company’s stock valued at $20,485,000 after acquiring an additional 551,952 shares during the period. AQR Capital Management LLC increased its stake in shares of EverCommerce by 301.4% during the fourth quarter. AQR Capital Management LLC now owns 447,832 shares of the company’s stock valued at $3,332,000 after acquiring an additional 336,272 shares during the period. Standard Investments LLC increased its stake in shares of EverCommerce by 4.3% during the fourth quarter. Standard Investments LLC now owns 6,115,000 shares of the company’s stock valued at $45,496,000 after acquiring an additional 250,000 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of EverCommerce by 320.7% during the second quarter. JPMorgan Chase & Co. now owns 237,879 shares of the company’s stock valued at $2,151,000 after acquiring an additional 181,331 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

EverCommerce Company Profile

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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.