EverCommerce (NASDAQ:EVCM) Price Target Raised to $11.00

EverCommerce (NASDAQ:EVCM) had its price objective upped by analysts at Piper Sandler from $10.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 8.18% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI raised their target price on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.44.

EverCommerce Trading Down 1.4 %

EverCommerce stock opened at $11.98 on Wednesday. The firm has a 50-day moving average of $10.59 and a 200-day moving average of $10.51. EverCommerce has a one year low of $6.22 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -52.09 and a beta of 1.07.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 5,436 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total transaction of $54,849.24. Following the transaction, the chief executive officer now directly owns 8,100,550 shares of the company’s stock, valued at approximately $81,734,549.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 89,310 shares of company stock valued at $965,566. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in EverCommerce in the third quarter valued at approximately $107,000. The Manufacturers Life Insurance Company increased its stake in EverCommerce by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after acquiring an additional 1,089 shares during the last quarter. Edgestream Partners L.P. bought a new position in EverCommerce in the first quarter valued at approximately $123,000. Renaissance Technologies LLC increased its stake in EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock valued at $182,000 after acquiring an additional 2,700 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new position in EverCommerce in the third quarter valued at approximately $241,000. 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.