Royal Bank of Canada Increases EverCommerce (NASDAQ:EVCM) Price Target to $14.00

EverCommerce (NASDAQ:EVCM) had its price target upped by investment analysts at Royal Bank of Canada from $12.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 26.58% from the stock’s current price.

EVCM has been the topic of several other reports. Oppenheimer upped their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. 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. Finally, JPMorgan Chase & Co. upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. One 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Stock Performance

Shares of EverCommerce stock traded down $0.01 on Wednesday, reaching $11.06. 12,734 shares of the stock were exchanged, compared to its average volume of 140,624. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average price of $10.62 and a two-hundred day moving average price of $10.52.

EverCommerce (NASDAQ:EVCM) last issued its earnings results 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). 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 business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts expect that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of the 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 $86,847,302.47. This trade represents a 0.09 % 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 90 days, insiders have sold 111,377 shares of company stock valued at $1,217,786. Company insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently bought and sold shares of EVCM. The Manufacturers Life Insurance Company increased its position in shares of EverCommerce by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after acquiring an additional 1,089 shares in the last quarter. 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. Bank of New York Mellon Corp increased its position in shares of EverCommerce by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after acquiring an additional 9,595 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of EverCommerce in the third quarter worth $107,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of EverCommerce in the first quarter worth $123,000. Hedge funds and other 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.