EverCommerce (NASDAQ:EVCM) Price Target Cut to $11.00 by Analysts at Royal Bank of Canada

EverCommerce (NASDAQ:EVCM) had its price target trimmed by Royal Bank of Canada from $14.00 to $11.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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 analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.27.

EverCommerce Stock Up 4.6 %

NASDAQ:EVCM opened at $9.36 on Friday. EverCommerce has a 52 week low of $6.22 and a 52 week high of $12.35. The firm has a market capitalization of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12. The stock has a 50 day moving average of $10.17 and a 200-day moving average of $10.71. 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 return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. During the same period last year, the company earned ($0.12) earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 7,235 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $11.22, for a total transaction of $81,176.70. Following the completion of the sale, the chief executive officer now directly owns 7,898,225 shares of the company’s stock, valued at $88,618,084.50. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matthew David Feierstein sold 2,888 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total transaction of $28,908.88. Following the sale, the president now owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. The trade was a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 188,865 shares of company stock valued at $1,950,085. 11.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after buying an additional 22,360 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after buying an additional 63,139 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of EverCommerce in the third quarter valued at $536,000. Janus Henderson Group PLC increased its holdings in shares of EverCommerce by 1.2% in the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after buying an additional 3,837 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of EverCommerce by 2.4% in the third quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after buying an additional 12,156 shares in the last quarter. 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.