EverCommerce (NASDAQ:EVCM) Given New $11.00 Price Target at Piper Sandler

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

EVCM has been the topic of several other reports. Evercore ISI increased their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” 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 given a buy rating to the stock. Based on data from MarketBeat.com, EverCommerce has a consensus rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Price Performance

EverCommerce stock 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 one year low of $6.22 and a one year high of $12.35. The firm 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 fifty day moving average price of $10.64 and a 200-day moving average price of $10.54.

EverCommerce (NASDAQ:EVCM) last posted its 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 net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts forecast that EverCommerce will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 13,200 shares of EverCommerce stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.04, for a total value of $145,728.00. Following the transaction, the chief executive officer now owns 7,970,481 shares in the company, valued at $87,994,110.24. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 111,377 shares of company stock worth $1,217,786 in the last quarter. 11.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after acquiring an additional 281,551 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after purchasing an additional 95,934 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of EverCommerce during the third quarter valued at approximately $570,000. Edgestream Partners L.P. bought a new position in shares of EverCommerce in the third quarter worth approximately $536,000. Finally, AQR Capital Management LLC increased its stake in shares of EverCommerce by 394.8% in the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after buying an additional 44,378 shares during the period. 97.91% of the stock is owned by 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.