Analysts Set EverCommerce Inc. (NASDAQ:EVCM) Price Target at $11.13

Shares of EverCommerce Inc. (NASDAQ:EVCM) have been given an average rating of “Hold” by the seven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $11.13.

A number of analysts have weighed in on the company. Royal Bank of Canada lowered their price target on EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Barclays reduced their price objective on EverCommerce from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, March 15th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 price objective (down previously from $11.00) on shares of EverCommerce in a research note on Friday, March 15th. Piper Sandler reaffirmed a “neutral” rating and set a $10.00 price target on shares of EverCommerce in a research note on Friday, March 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $12.00 price target on shares of EverCommerce in a research note on Friday, March 15th.

EverCommerce Stock Performance

Shares of NASDAQ EVCM opened at $9.75 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $9.21 and its two-hundred day moving average is $9.56. The company has a market cap of $1.82 billion, a P/E ratio of -42.39 and a beta of 1.05. EverCommerce has a 12 month low of $6.22 and a 12 month high of $13.47.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The business had revenue of $169.44 million during the quarter, compared to the consensus estimate of $172.41 million. EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. On average, equities analysts expect that EverCommerce will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 4,016 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $9.00, for a total value of $36,144.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,061 shares in the company, valued at $11,628,549. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 22,345 shares of company stock worth $209,568 over the last ninety days. 11.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in EverCommerce by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 185,359 shares of the company’s stock valued at $1,859,000 after purchasing an additional 3,831 shares during the last quarter. Strs Ohio acquired a new stake in EverCommerce during the 3rd quarter worth approximately $108,000. Great Lakes Advisors LLC lifted its holdings in EverCommerce by 143.9% during the 3rd quarter. Great Lakes Advisors LLC now owns 142,627 shares of the company’s stock worth $1,431,000 after purchasing an additional 84,147 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in EverCommerce by 7.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock worth $254,000 after purchasing an additional 1,500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in EverCommerce during the 4th quarter worth approximately $391,000. 97.91% of the stock is currently owned by institutional investors.

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.