EverCommerce Inc. (NASDAQ:EVCM) Receives $11.40 Consensus Price Target from Analysts

Shares of EverCommerce Inc. (NASDAQ:EVCM) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $11.40.

Several research firms have issued reports on EVCM. Oppenheimer upped their price target on shares of EverCommerce from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Canaccord Genuity Group lifted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 10th.

EverCommerce Trading Down 3.2 %

EverCommerce stock opened at $11.62 on Thursday. The stock has a market cap of $2.15 billion, a P/E ratio of -55.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.71 and a current ratio of 1.71. The firm’s fifty day moving average price is $10.55 and its 200-day moving average price is $9.91. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.13.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The company had revenue of $170.10 million during the quarter, compared to analysts’ expectations of $162.11 million. During the same period in the prior year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts forecast that EverCommerce will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, President Matthew David Feierstein sold 4,582 shares of EverCommerce stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $10.16, for a total value of $46,553.12. Following the completion of the sale, the president now directly owns 2,305,612 shares in the company, valued at approximately $23,425,017.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other EverCommerce news, President Matthew David Feierstein sold 4,582 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total transaction of $46,553.12. Following the completion of the sale, the president now directly owns 2,305,612 shares in the company, valued at approximately $23,425,017.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Marc Christopher Thompson sold 4,701 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total value of $47,762.16. Following the sale, the chief financial officer now owns 1,198,110 shares of the company’s stock, valued at approximately $12,172,797.60. The disclosure for this sale can be found here. Insiders have sold a total of 74,299 shares of company stock valued at $738,573 over the last ninety days. 11.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in EverCommerce in the 1st quarter worth $123,000. Quest Partners LLC bought a new position in shares of EverCommerce in the 4th quarter valued at about $135,000. RIA Advisory Group LLC bought a new stake in shares of EverCommerce in the 1st quarter valued at approximately $242,000. Raymond James Financial Services Advisors Inc. raised its holdings in EverCommerce by 7.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock valued at $254,000 after buying an additional 1,500 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of EverCommerce in the fourth quarter valued at $391,000. 97.91% of the stock is owned by hedge funds and other 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.