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

EverCommerce (NASDAQ:EVCM) had its price objective increased by Piper Sandler from $10.00 to $11.00 in a research note published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the company. Evercore ISI raised their price target on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Stock Down 1.5 %

EverCommerce stock traded down $0.17 during mid-day trading on Wednesday, hitting $10.97. The company had a trading volume of 7,664 shares, compared to its average volume of 140,528. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.67. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -39.78 and a beta of 1.07. The business has a fifty day moving average of $10.60 and a 200 day moving average of $10.51.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. EverCommerce had a negative return on equity of 6.49% and a negative net margin of 7.53%. EverCommerce’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 18,142 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.73, for a total transaction of $212,805.66. Following the transaction, the chief executive officer now owns 8,005,806 shares of the company’s stock, valued at $93,908,104.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 89,310 shares of company stock valued at $965,566. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently modified their holdings of EVCM. SG Americas Securities LLC purchased a new stake in shares of EverCommerce during the 3rd quarter worth about $107,000. The Manufacturers Life Insurance Company lifted its position in EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after buying an additional 1,089 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in EverCommerce during the first quarter worth approximately $123,000. Renaissance Technologies LLC increased its position in shares of EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after acquiring an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new position in shares of EverCommerce during the 3rd quarter valued at $241,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.