EverCommerce (NASDAQ:EVCM) Price Target Raised to $14.00

EverCommerce (NASDAQ:EVCM - Get Free Report) had its price target raised by analysts at Royal Bank of Canada from $12.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would suggest a potential upside of 25.67% from the stock's current price.

A number of other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Piper Sandler boosted their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday. Oppenheimer boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Wednesday. Evercore ISI boosted their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.56.

EverCommerce Trading Down 7.0 %

NASDAQ:EVCM traded down $0.84 on Wednesday, reaching $11.14. The stock had a trading volume of 174,729 shares, compared to its average volume of 141,132. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a fifty day moving average price of $10.59 and a 200-day moving average price of $10.51.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates 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 business's revenue was up .9% compared to the same quarter last year. Equities analysts predict that EverCommerce will post -0.09 EPS for the current fiscal year.

Insider Activity

In other news, CEO Eric Richard Remer sold 18,142 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.73, for a total value of $212,805.66. Following the completion of the transaction, the chief executive officer now owns 8,005,806 shares in the company, valued at $93,908,104.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 89,310 shares of company stock worth $965,566 over the last quarter. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors 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 worth $241,000. DekaBank Deutsche Girozentrale acquired a new stake in EverCommerce in the third quarter valued at $570,000. SG Americas Securities LLC acquired a new stake in EverCommerce in the third quarter valued at $107,000. The Manufacturers Life Insurance Company lifted its stake in EverCommerce by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company's stock valued at $125,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in EverCommerce by 673.4% in the second 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 last quarter. Institutional investors and hedge funds 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.