EverCommerce (NASDAQ:EVCM) Price Target Raised to $15.00

EverCommerce (NASDAQ:EVCM) had its target price hoisted by JMP Securities from $12.00 to $15.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other analysts also recently issued research reports about the company. Royal Bank of Canada raised their price objective on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI boosted 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 raised their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Oppenheimer upped their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays raised their price target on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, EverCommerce presently has an average rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Stock Up 0.5 %

EVCM opened at $11.12 on Wednesday. The business has a 50 day moving average of $10.64 and a 200-day moving average of $10.53. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -39.71 and a beta of 1.07. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.68. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last issued 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 net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. EverCommerce’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that EverCommerce will post -0.09 earnings per share for the current year.

Insider Activity

In other EverCommerce news, CEO Eric Richard Remer sold 8,867 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $12.01, for a total value of $106,492.67. Following the completion of the sale, the chief executive officer now owns 7,996,939 shares in the company, valued at approximately $96,043,237.39. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 111,377 shares of company stock worth $1,217,786. Insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after buying an additional 1,089 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of EverCommerce by 19.4% during 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 during the last quarter. Janus Henderson Group PLC lifted its stake in shares of EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after acquiring an additional 3,837 shares during the period. Bank of New York Mellon Corp boosted its holdings in EverCommerce by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock valued at $1,805,000 after acquiring an additional 9,595 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in EverCommerce in the third quarter worth about $107,000. 97.91% of the stock is owned by institutional investors.

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.