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

EverCommerce (NASDAQ:EVCM – Get Rating) had its price target raised by Royal Bank of Canada from $11.00 to $12.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on EVCM. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of EverCommerce from $12.00 to $11.00 and set a buy rating for the company in a report on Monday, January 23rd. Piper Sandler restated a neutral rating and issued a $9.00 price objective on shares of EverCommerce in a report on Thursday. Evercore ISI decreased their target price on shares of EverCommerce to $11.00 in a research note on Wednesday, November 16th. Finally, Barclays boosted their target price on shares of EverCommerce from $9.00 to $10.00 and gave the company an equal weight rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $11.54.

EverCommerce Price Performance

Shares of NASDAQ EVCM opened at $10.25 on Thursday. EverCommerce has a twelve month low of $5.87 and a twelve month high of $14.22. The company has a 50 day moving average of $9.74 and a 200 day moving average of $8.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85.

Insider Activity

In other news, CTO Samuel Christopher Alaimo sold 3,039 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $29,113.62. Following the completion of the sale, the chief technology officer now owns 101,696 shares of the company’s stock, valued at approximately $974,247.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CMO Sarah Michelle Jordan sold 3,315 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $31,757.70. Following the completion of the sale, the chief marketing officer now owns 86,960 shares of the company’s stock, valued at approximately $833,076.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Samuel Christopher Alaimo sold 3,039 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $29,113.62. Following the sale, the chief technology officer now directly owns 101,696 shares of the company’s stock, valued at approximately $974,247.68. The disclosure for this sale can be found here. Insiders sold a total of 47,695 shares of company stock valued at $440,763 in the last 90 days. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in EverCommerce by 16.2% in the 4th quarter. Alliancebernstein L.P. now owns 40,200 shares of the company’s stock worth $299,000 after buying an additional 5,600 shares during the period. Jane Street Group LLC boosted its holdings in EverCommerce by 87.7% in the 4th quarter. Jane Street Group LLC now owns 35,109 shares of the company’s stock worth $261,000 after buying an additional 16,401 shares during the period. State of Wisconsin Investment Board boosted its holdings in EverCommerce by 63.6% in the 4th quarter. State of Wisconsin Investment Board now owns 50,309 shares of the company’s stock worth $374,000 after buying an additional 19,565 shares during the period. AQR Capital Management LLC boosted its holdings in EverCommerce by 301.4% in the 4th quarter. AQR Capital Management LLC now owns 447,832 shares of the company’s stock worth $3,332,000 after buying an additional 336,272 shares during the period. Finally, Standard Investments LLC boosted its holdings in EverCommerce by 4.3% in the 4th quarter. Standard Investments LLC now owns 6,115,000 shares of the company’s stock worth $45,496,000 after buying an additional 250,000 shares during the period. Institutional investors own 88.81% 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.