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

EverCommerce (NASDAQ:EVCM) had its price target lifted by Oppenheimer from $12.00 to $13.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

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

EverCommerce Stock Performance

Shares of EVCM opened at $11.12 on Wednesday. EverCommerce has a 52-week low of $6.22 and a 52-week high of $12.35. The stock’s 50-day simple moving average is $10.64 and its 200 day simple moving average is $10.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.68 and a current ratio of 1.81. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -39.71 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. The company’s revenue was up .9% compared to the same quarter last year. Research analysts forecast that EverCommerce will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the transaction, the chief executive officer now directly owns 8,124,163 shares in the company, valued at $86,847,302.47. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 111,377 shares of company stock valued at $1,217,786 over the last 90 days. Insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC boosted its position in EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after buying an additional 281,551 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of EverCommerce by 39.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after acquiring an additional 95,934 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of EverCommerce in the 3rd quarter valued at about $570,000. Edgestream Partners L.P. purchased a new stake in EverCommerce during the 3rd quarter valued at about $536,000. Finally, AQR Capital Management LLC grew its position in EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after acquiring an additional 44,378 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.