EverCommerce Inc. (NASDAQ:EVCM) Receives $11.13 Consensus Target Price from Brokerages

EverCommerce Inc. (NASDAQ:EVCM) has been given a consensus rating of “Hold” by the seven brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.13.

Several research firms recently commented on EVCM. Piper Sandler reissued a “neutral” rating and issued a $10.00 target price on shares of EverCommerce in a report on Friday, March 15th. JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of EverCommerce in a report on Friday, March 15th. Barclays dropped their target price on EverCommerce from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 15th. Royal Bank of Canada dropped their target price on EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 target price (down previously from $11.00) on shares of EverCommerce in a report on Friday, March 15th.

EverCommerce Stock Down 1.8 %

Shares of NASDAQ EVCM opened at $8.59 on Tuesday. The stock has a market cap of $1.60 billion, a P/E ratio of -37.35 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. EverCommerce has a 12-month low of $6.22 and a 12-month high of $13.47. The business’s fifty day simple moving average is $9.43 and its 200-day simple moving average is $9.66.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The company had revenue of $169.44 million during the quarter, compared to analyst estimates of $172.41 million. EverCommerce had a negative net margin of 6.75% and a negative return on equity of 5.35%. As a group, equities analysts predict that EverCommerce will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric Richard Remer sold 4,016 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $9.00, for a total transaction of $36,144.00. Following the transaction, the chief executive officer now owns 1,292,061 shares of the company’s stock, valued at $11,628,549. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 22,345 shares of company stock valued at $209,568. 11.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of EverCommerce by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,634,461 shares of the company’s stock worth $18,028,000 after buying an additional 6,244 shares during the last quarter. Barclays PLC grew its holdings in shares of EverCommerce by 595.5% during the fourth quarter. Barclays PLC now owns 32,054 shares of the company’s stock worth $353,000 after buying an additional 27,445 shares during the last quarter. Voya Investment Management LLC acquired a new stake in EverCommerce in the fourth quarter valued at about $112,000. Occudo Quantitative Strategies LP lifted its position in EverCommerce by 22.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 13,008 shares of the company’s stock valued at $143,000 after purchasing an additional 2,410 shares during the period. Finally, Royal Bank of Canada lifted its position in EverCommerce by 113.9% in the fourth quarter. Royal Bank of Canada now owns 8,284 shares of the company’s stock valued at $91,000 after purchasing an additional 4,412 shares during the period. Hedge funds and other institutional investors 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.