Piper Sandler Issues Positive Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM - Free Report) had its price objective increased by Piper Sandler from $10.00 to $11.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

EVCM has been the subject of several other research reports. Evercore ISI lifted their price objective on EverCommerce from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on EverCommerce from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, EverCommerce has a consensus rating of "Moderate Buy" and an average price target of $12.56.

EverCommerce Price Performance

EverCommerce stock traded down $0.66 during midday trading on Wednesday, reaching $11.32. 102,321 shares of the stock traded hands, compared to its average volume of 140,803. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. The company has a 50-day simple moving average of $10.59 and a two-hundred day simple moving average of $10.51. EverCommerce has a 12-month low of $6.22 and a 12-month high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its 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). The firm had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.49%. The firm's quarterly revenue was up .9% on a year-over-year basis. Analysts expect that EverCommerce will post -0.09 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 10,311 shares of EverCommerce stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.69, for a total transaction of $110,224.59. Following the transaction, the chief executive officer now directly owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 89,310 shares of company stock valued at $965,566 in the last quarter. Corporate insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On EverCommerce

Hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company's stock worth $3,550,000 after acquiring an additional 281,551 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company's stock worth $3,740,000 after purchasing an additional 95,934 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of EverCommerce in the third quarter worth about $570,000. AQR Capital Management LLC increased its stake in shares of EverCommerce by 394.8% in the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company's stock worth $611,000 after purchasing an additional 44,378 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company's stock worth $15,684,000 after purchasing an additional 30,481 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.