EverCommerce (NASDAQ:EVCM) Price Target Cut to $12.00 by Analysts at Oppenheimer

EverCommerce (NASDAQ:EVCM) had its target price decreased by Oppenheimer from $13.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 34.08% from the stock’s previous close.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $8.95 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $10.20 and its 200-day moving average price is $10.72. The firm has a market cap of $1.64 billion, a P/E ratio of -31.96 and a beta of 1.12. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $170.48 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, President Matthew David Feierstein sold 2,888 shares of EverCommerce stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $10.01, for a total value of $28,908.88. Following the transaction, the president now owns 2,209,807 shares in the company, valued at $22,120,168.07. The trade was a 0.13 % 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, CEO Eric Richard Remer sold 9,404 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.06, for a total transaction of $85,200.24. Following the completion of the transaction, the chief executive officer now owns 7,707,226 shares of the company’s stock, valued at $69,827,467.56. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,748 shares of company stock worth $1,858,526 over the last 90 days. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in EverCommerce during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of EverCommerce by 145.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after purchasing an additional 2,040 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of EverCommerce by 919.0% during the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock valued at $45,000 after purchasing an additional 3,667 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock worth $116,000 after purchasing an additional 3,106 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in EverCommerce during the 4th quarter worth $119,000. Hedge funds and other 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.