EverCommerce (NASDAQ:EVCM) PT Raised to $12.00 at Oppenheimer

EverCommerce (NASDAQ:EVCM) had its target price hoisted by investment analysts at Oppenheimer from $11.00 to $12.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 23.84% from the company’s current price.

Several other brokerages have also recently issued reports on EVCM. Royal Bank of Canada decreased their price target on shares of EverCommerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Barclays decreased their price objective on EverCommerce from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, March 15th. Piper Sandler reaffirmed a “neutral” rating and set 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 price target on shares of EverCommerce in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 price objective (down from $11.00) on shares of EverCommerce in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.22.

EverCommerce Trading Down 1.7 %

Shares of EVCM stock opened at $9.69 on Friday. EverCommerce has a twelve month low of $6.22 and a twelve month high of $13.47. The stock’s fifty day simple moving average is $9.20 and its 200 day simple moving average is $9.57. 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 firm has a market capitalization of $1.80 billion, a P/E ratio of -42.13 and a beta of 1.05.

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

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 3,794 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $9.61, for a total transaction of $36,460.34. Following the transaction, the chief executive officer now directly owns 1,305,407 shares in the company, valued at approximately $12,544,961.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 22,345 shares of company stock worth $209,568. 11.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Several institutional investors have recently made changes to their positions in EVCM. Strs Ohio bought a new stake in EverCommerce in the 3rd quarter valued at about $108,000. Quest Partners LLC bought a new stake in shares of EverCommerce during the fourth quarter valued at approximately $135,000. RIA Advisory Group LLC acquired a new position in shares of EverCommerce during the first quarter worth approximately $242,000. Raymond James Financial Services Advisors Inc. raised its position in shares of EverCommerce by 7.0% during the fourth 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 period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of EverCommerce in the 4th quarter worth $391,000. 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.