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

EverCommerce (NASDAQ:EVCM - Get Free Report) had its price objective cut by Piper Sandler from $11.00 to $9.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price would suggest a potential downside of 10.71% from the company's current price.

A number of other analysts have also weighed in on the company. Oppenheimer dropped their price objective on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Royal Bank of Canada dropped their price target on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Jefferies Financial Group lowered their price objective on shares of EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research note on Friday, March 14th. Barclays dropped their target price on shares of EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Finally, The Goldman Sachs Group reduced their price target on EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, EverCommerce has a consensus rating of "Hold" and an average target price of $11.09.

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EverCommerce Trading Up 0.9 %

Shares of EVCM traded up $0.09 during mid-day trading on Monday, reaching $10.08. The company's stock had a trading volume of 170,598 shares, compared to its average volume of 134,494. The company has a current ratio of 1.81, a quick 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 company's fifty day moving average price is $10.12 and its two-hundred day moving average price is $10.69. The stock has a market cap of $1.85 billion, a PE ratio of -36.00 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the business posted ($0.12) earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, President Matthew David Feierstein sold 20,401 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total transaction of $220,534.81. Following the completion of the transaction, the president now owns 2,217,294 shares of the company's stock, valued at $23,968,948.14. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 13,552 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.97, for a total value of $135,113.44. Following the completion of the sale, the chief executive officer now directly owns 7,646,915 shares in the company, valued at approximately $76,239,742.55. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,833 shares of company stock worth $2,265,542. Corporate insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company's stock valued at $4,716,000 after purchasing an additional 110,183 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of EverCommerce by 24.8% during 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company's stock valued at $1,059,000 after buying an additional 63,139 shares during the last quarter. Raymond James Financial Inc. bought a new stake in EverCommerce in the 4th quarter worth about $694,000. Finally, Arrowstreet Capital Limited Partnership raised its position in EverCommerce by 84.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company's stock worth $1,468,000 after buying an additional 61,144 shares during the last quarter. 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.