Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Target Price at $11.00

EverCommerce Inc. (NASDAQ:EVCM) has been given a consensus recommendation of “Reduce” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $11.00.

A number of research analysts have recently commented on EVCM shares. Barclays dropped their price objective on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research report on Thursday, January 22nd. Zacks Research downgraded shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Lake Street Capital set a $11.00 price objective on shares of EverCommerce in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada downgraded EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a report on Monday, January 5th.

EverCommerce Price Performance

EVCM stock opened at $10.98 on Monday. EverCommerce has a 52-week low of $7.66 and a 52-week high of $14.41. The stock’s fifty day simple moving average is $11.57 and its 200-day simple moving average is $11.11. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -1,096.90, a price-to-earnings-growth ratio of 2.24 and a beta of 1.03.

Insider Activity

In other news, CEO Eric Richard Remer sold 2,797 shares of EverCommerce stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $10.77, for a total value of $30,123.69. Following the transaction, the chief executive officer directly owned 2,684,018 shares of the company’s stock, valued at $28,906,873.86. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Matthew David Feierstein sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $10.80, for a total value of $108,000.00. Following the sale, the president owned 2,035,919 shares of the company’s stock, valued at $21,987,925.20. The trade was a 0.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 335,503 shares of company stock valued at $3,731,292 over the last 90 days. 10.40% of the stock is currently owned by insiders.

Institutional Trading of EverCommerce

A number of institutional investors have recently added to or reduced their stakes in EVCM. Arrowstreet Capital Limited Partnership raised its position in EverCommerce by 328.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock valued at $7,502,000 after purchasing an additional 547,712 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of EverCommerce by 200.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock valued at $1,397,000 after buying an additional 83,794 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after buying an additional 11,996 shares during the period. Los Angeles Capital Management LLC lifted its position in EverCommerce by 136.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock worth $862,000 after acquiring an additional 47,470 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in EverCommerce in the 2nd quarter worth approximately $595,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

About EverCommerce

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.