EverCommerce (NASDAQ:EVCM) Price Target Raised to $12.00 at Barclays

EverCommerce (NASDAQ:EVCM) had its price target raised by Barclays from $9.00 to $12.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently weighed in on EVCM. 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. Piper Sandler upped their target price on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday. Oppenheimer increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, EverCommerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Up 0.5 %

EVCM opened at $11.12 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.68. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35. The stock has a market capitalization of $2.04 billion, a P/E ratio of -39.71 and a beta of 1.07. The business has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $10.53.

EverCommerce (NASDAQ:EVCM) last posted 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). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The firm’s revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the transaction, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 111,377 shares of company stock valued at $1,217,786 in the last ninety days. Insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after purchasing an additional 22,360 shares during the last quarter. State Street Corp lifted its position in EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after buying an additional 12,156 shares during the period. Janus Henderson Group PLC boosted its stake in EverCommerce by 1.2% in the 3rd 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. Edgestream Partners L.P. purchased a new stake in EverCommerce in the 3rd quarter valued at about $536,000. Finally, RIA Advisory Group LLC acquired a new position in shares of EverCommerce during the 3rd quarter valued at about $241,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.