EverCommerce (NASDAQ:EVCM) Price Target Raised to $11.00 at Piper Sandler

EverCommerce (NASDAQ:EVCM) had its price objective raised by Piper Sandler from $10.00 to $11.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

EVCM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI upped their price target on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, EverCommerce currently has an average rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Price Performance

Shares of NASDAQ:EVCM opened at $11.12 on Wednesday. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35. The stock’s 50 day moving average is $10.64 and its 200-day moving average is $10.54. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -39.71 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts forecast that EverCommerce will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $10.69, for a total value of $75,888.31. Following the transaction, the chief executive officer now directly owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 111,377 shares of company stock worth $1,217,786 in the last quarter. 11.60% of the stock is currently owned by company insiders.

Institutional Trading of EverCommerce

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after acquiring an additional 30,481 shares during the period. State Street Corp lifted its stake in 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 purchasing an additional 12,156 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 95,934 shares during the last quarter. Millennium Management LLC grew its holdings in EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after purchasing an additional 281,551 shares during the period. Finally, Janus Henderson Group PLC increased its position in EverCommerce by 1.2% in the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after buying an additional 3,837 shares during the last quarter. Institutional investors 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.