The Goldman Sachs Group Issues Pessimistic Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM - Free Report) had its target price decreased by The Goldman Sachs Group from $9.00 to $8.00 in a research report report published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

EVCM has been the subject of several other reports. Jefferies Financial Group decreased their price target on shares of EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research note on Friday. Oppenheimer decreased their price target on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday. Barclays decreased their price target on shares of EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Royal Bank of Canada decreased their price target on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, EverCommerce has a consensus rating of "Hold" and a consensus target price of $11.09.

EverCommerce Stock Up 0.1 %

EVCM stock traded up $0.01 during mid-day trading on Friday, hitting $9.98. 134,176 shares of the company were exchanged, compared to its average volume of 134,148. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market cap of $1.83 billion, a P/E ratio of -35.64 and a beta of 1.12. The firm's 50 day simple moving average is $10.14 and its 200 day simple moving average is $10.70. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35.

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EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. EverCommerce's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) earnings per share. On average, sell-side analysts predict that EverCommerce will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 7,235 shares of EverCommerce stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $11.22, for a total transaction 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 approximately $88,618,084.50. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew David Feierstein sold 20,401 shares of EverCommerce stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the sale, the president now directly owns 2,217,294 shares of the company's stock, valued at $23,968,948.14. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 181,735 shares of company stock valued at $1,864,596 over the last ninety days. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after purchasing an additional 2,040 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in EverCommerce in the fourth quarter valued at about $29,000. Wells Fargo & Company MN raised its stake in EverCommerce by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock valued at $116,000 after purchasing an additional 3,106 shares in the last quarter. Finally, Barclays PLC raised its stake in EverCommerce by 11.2% in the fourth quarter. Barclays PLC now owns 32,989 shares of the company's stock valued at $363,000 after purchasing an additional 3,312 shares in the last quarter. Institutional investors and hedge funds 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.