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

EverCommerce (NASDAQ:EVCM - Get Free Report) had its price target upped by analysts at Oppenheimer from $12.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target indicates a potential upside of 16.70% from the stock's previous close.

Other analysts also recently issued reports about the company. Piper Sandler raised their target price on EverCommerce from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday. Evercore ISI increased their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.56.

EverCommerce Price Performance

EVCM stock traded down $0.84 during midday trading on Wednesday, hitting $11.14. 174,729 shares of the stock were exchanged, compared to its average volume of 141,132. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The stock's 50-day moving average price is $10.59 and its 200-day moving average price is $10.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued 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 6.49%. The business had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. The company's revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that EverCommerce will post -0.09 EPS for the current fiscal year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the transaction, the chief executive officer now owns 8,124,163 shares in the company, valued at approximately $86,847,302.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 89,310 shares of company stock worth $965,566 in the last ninety days. Company insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently added to or reduced their stakes in the business. RIA Advisory Group LLC acquired a new position in EverCommerce during the third quarter valued at approximately $241,000. DekaBank Deutsche Girozentrale bought a new position in EverCommerce during the 3rd quarter worth approximately $570,000. SG Americas Securities LLC bought a new stake in EverCommerce during the third quarter valued at $107,000. The Manufacturers Life Insurance Company grew its stake in EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company's stock worth $125,000 after purchasing an additional 1,089 shares during the period. Finally, Millennium Management LLC lifted its position in shares of EverCommerce by 673.4% during the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company's stock valued at $3,550,000 after acquiring an additional 281,551 shares during the period. 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.