Piper Sandler Cuts EverCommerce (NASDAQ:EVCM) Price Target to $9.00

EverCommerce (NASDAQ:EVCM) had its target price reduced by Piper Sandler from $11.00 to $9.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Barclays cut their price objective on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Oppenheimer cut their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Jefferies Financial Group cut their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, March 14th. The Goldman Sachs Group cut their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 14th. Finally, Royal Bank of Canada cut their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.09.

EverCommerce Stock Performance

EverCommerce stock opened at $10.02 on Monday. The company has a 50 day moving average price of $10.13 and a 200-day moving average price of $10.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The company has a market capitalization of $1.84 billion, a PE ratio of -35.78 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. During the same period in the prior year, the firm posted ($0.12) EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that EverCommerce will post -0.17 earnings per share for the current year.

Insider Activity

In related news, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total transaction of $28,908.88. Following the completion of the transaction, the president now directly owns 2,209,807 shares in the company, valued at $22,120,168.07. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 13,856 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $10.81, for a total transaction of $149,783.36. Following the transaction, the chief executive officer now owns 7,783,096 shares of the company’s stock, valued at $84,135,267.76. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,300 shares of company stock valued at $2,031,916 over the last ninety days. 11.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in shares of EverCommerce during the 4th quarter worth about $127,000. Woodline Partners LP boosted its stake in shares of EverCommerce by 24.8% during the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock worth $5,891,000 after acquiring an additional 106,359 shares in the last quarter. State of Wyoming boosted its stake in shares of EverCommerce by 245.4% during the 4th quarter. State of Wyoming now owns 32,875 shares of the company’s stock worth $362,000 after acquiring an additional 23,356 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of EverCommerce during the 4th quarter worth about $143,000. Finally, Janus Henderson Group PLC boosted its stake in shares of EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after acquiring an additional 110,183 shares in the last quarter. 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.