EverCommerce (NASDAQ:EVCM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

EverCommerce (NASDAQ:EVCM) had its price target raised by equities research analysts at Royal Bank of Canada from $12.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 26.58% from the company’s previous close.

A number of other research analysts have also weighed in on EVCM. JPMorgan Chase & Co. raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Oppenheimer raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Price Performance

EverCommerce stock traded down $0.01 during midday trading on Wednesday, reaching $11.06. The company had a trading volume of 12,734 shares, compared to its average volume of 140,624. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35. The firm’s fifty day simple moving average is $10.62 and its 200-day simple moving average is $10.52. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million during the quarter, compared to analysts’ expectations of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm’s revenue was up .9% on a year-over-year basis. On average, analysts anticipate that EverCommerce will post -0.09 EPS for the current year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of EverCommerce stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total value of $75,888.31. Following the completion of the sale, the chief executive officer now owns 8,124,163 shares in the company, valued at approximately $86,847,302.47. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 111,377 shares of company stock worth $1,217,786 in the last 90 days. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Institutional investors have recently modified their holdings of the business. Millennium Management LLC lifted its position in EverCommerce by 673.4% in the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after acquiring an additional 281,551 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after acquiring an additional 95,934 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in EverCommerce in the third quarter valued at $570,000. Edgestream Partners L.P. purchased a new stake in EverCommerce in the third quarter valued at $536,000. Finally, AQR Capital Management LLC lifted its position in EverCommerce by 394.8% in the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock valued at $611,000 after acquiring an additional 44,378 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Company Profile

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.