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

EverCommerce (NASDAQ:EVCM) had its price objective cut by equities researchers at Royal Bank of Canada from $14.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 17.52% from the company’s previous close.

Separately, Oppenheimer decreased their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.27.

EverCommerce Price Performance

EverCommerce stock opened at $9.36 on Friday. The stock has a 50-day moving average price of $10.17 and a two-hundred day moving average price of $10.71. EverCommerce has a 12 month low of $8.10 and a 12 month high of $12.35. The company has a market capitalization of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. During the same quarter last year, the business earned ($0.12) EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that EverCommerce will post -0.17 EPS for the current year.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the transaction, the president now owns 2,217,294 shares in the company, valued at $23,968,948.14. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Richard Remer sold 7,130 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $11.99, for a total transaction of $85,488.70. Following the completion of the sale, the chief executive officer now owns 7,913,929 shares of the company’s stock, valued at $94,888,008.71. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,865 shares of company stock worth $1,950,085 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in EverCommerce in the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC raised its position in shares of EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock worth $38,000 after purchasing an additional 2,040 shares during the period. Deutsche Bank AG lifted its holdings in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock worth $45,000 after purchasing an additional 3,667 shares in the last quarter. Wells Fargo & Company MN grew its position in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after purchasing an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in EverCommerce during the 4th quarter valued at $119,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.