Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Price Target at $11.40

EverCommerce Inc. (NASDAQ:EVCM) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.40.

EVCM has been the subject of a number of research analyst reports. Oppenheimer boosted their target price on EverCommerce from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Royal Bank of Canada cut their price target on shares of EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Barclays decreased their price objective on EverCommerce from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, March 15th. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $12.00 price target on shares of EverCommerce in a research report on Friday, March 15th.

Insiders Place Their Bets

In other news, insider Lisa E. Storey sold 3,705 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $9.88, for a total value of $36,605.40. Following the completion of the transaction, the insider now directly owns 170,496 shares in the company, valued at approximately $1,684,500.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Lisa E. Storey sold 3,705 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $9.88, for a total transaction of $36,605.40. Following the completion of the sale, the insider now directly owns 170,496 shares in the company, valued at approximately $1,684,500.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marc Christopher Thompson sold 4,384 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $9.52, for a total transaction of $41,735.68. Following the completion of the transaction, the chief financial officer now directly owns 1,191,859 shares of the company’s stock, valued at approximately $11,346,497.68. The disclosure for this sale can be found here. Insiders have sold 73,037 shares of company stock worth $709,667 over the last ninety days. Corporate insiders own 11.50% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its stake in shares of EverCommerce by 57.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock valued at $512,000 after acquiring an additional 20,000 shares during the last quarter. Edgestream Partners L.P. acquired a new position in EverCommerce during the 1st quarter worth about $123,000. Vanguard Group Inc. grew its position in shares of EverCommerce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after buying an additional 30,481 shares during the last quarter. RIA Advisory Group LLC acquired a new stake in shares of EverCommerce in the first quarter valued at about $242,000. Finally, Quest Partners LLC acquired a new stake in EverCommerce during the 4th quarter valued at approximately $135,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Stock Performance

Shares of EVCM stock opened at $10.98 on Friday. The stock has a market cap of $2.03 billion, a PE ratio of -52.28 and a beta of 1.07. The stock has a 50-day moving average of $9.88 and a 200-day moving average of $9.81. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.71 and a quick ratio of 1.71. EverCommerce has a one year low of $6.22 and a one year high of $12.32.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Thursday, May 9th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $170.10 million during the quarter, compared to the consensus estimate of $162.11 million. EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. As a group, sell-side analysts expect that EverCommerce will post -0.08 earnings per share for the current year.

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.