Barclays Lowers EverCommerce (NASDAQ:EVCM) Price Target to $9.00

EverCommerce (NASDAQ:EVCM - Get Free Report) had its target price lowered by investment analysts at Barclays from $12.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential downside of 9.82% from the stock's previous close.

Several other brokerages have also recently weighed in on EVCM. Royal Bank of Canada reduced their price objective on EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday. Oppenheimer dropped their target price on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Jefferies Financial Group dropped their target price on EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, EverCommerce has a consensus rating of "Hold" and an average target price of $11.09.

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EverCommerce Trading Up 0.1 %

NASDAQ EVCM traded up $0.01 during trading hours on Friday, hitting $9.98. 134,176 shares of the company were exchanged, compared to its average volume of 134,148. The stock has a 50-day moving average price of $10.14 and a 200 day moving average price of $10.70. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce has a 52 week low of $8.10 and a 52 week high of $12.35. The stock has a market cap of $1.83 billion, a PE ratio of -35.64 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 6.56% and a negative net margin of 7.53%. 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 previous year, the firm earned ($0.12) earnings per share. The company's revenue was up 3.3% compared to the same quarter last year. Analysts forecast that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 2,888 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total value of $28,908.88. Following the completion of the sale, the president now owns 2,209,807 shares in the company, valued at approximately $22,120,168.07. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $11.22, for a total value of $81,176.70. Following the completion of the sale, the chief executive officer now owns 7,898,225 shares of the company's stock, valued at $88,618,084.50. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,735 shares of company stock worth $1,864,596. Company insiders own 11.60% of the company's stock.

Institutional Trading of EverCommerce

A number of large investors have recently modified their holdings of the company. Woodline Partners LP boosted its holdings in shares of EverCommerce by 24.8% in the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company's stock valued at $5,891,000 after purchasing an additional 106,359 shares during the period. State Street Corp lifted its holdings in EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company's stock worth $5,335,000 after buying an additional 12,156 shares during the period. Janus Henderson Group PLC lifted its holdings in EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company's stock worth $4,716,000 after buying an additional 110,183 shares during the period. Northern Trust Corp lifted its holdings in EverCommerce by 4.2% during the fourth quarter. Northern Trust Corp now owns 199,283 shares of the company's stock worth $2,194,000 after buying an additional 7,954 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock worth $1,856,000 after buying an additional 1,092 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

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.