EverCommerce (NASDAQ:EVCM) Price Target Raised to $13.00 at Oppenheimer

EverCommerce (NASDAQ:EVCM) had its price target hoisted by Oppenheimer from $12.00 to $13.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on EVCM. JPMorgan Chase & Co. upped their target price on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler boosted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Evercore ISI increased their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, EverCommerce has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Price Performance

EVCM stock opened at $11.12 on Wednesday. The firm’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $10.53. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35. 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 (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) 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 business had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. The business’s revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that EverCommerce will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 18,142 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.73, for a total transaction of $212,805.66. Following the completion of the transaction, the chief executive officer now owns 8,005,806 shares of the company’s stock, valued at $93,908,104.38. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 111,377 shares of company stock valued at $1,217,786 over the last quarter. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of EverCommerce in the 3rd quarter worth about $107,000. Edgestream Partners L.P. bought a new stake in EverCommerce during the 1st quarter valued at about $123,000. The Manufacturers Life Insurance Company increased its stake in EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares in the last quarter. Renaissance Technologies LLC raised its holdings in 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 buying an additional 2,700 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of EverCommerce in the third quarter worth approximately $241,000. 97.91% of the stock is owned by hedge funds and other 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.