Royal Bank of Canada Has Lowered Expectations for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM - Get Free Report) had its target price dropped by equities researchers at Royal Bank of Canada from $14.00 to $11.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 10.22% from the company's previous close.

Separately, Oppenheimer cut their price target on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday. Two equities research 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, EverCommerce presently has a consensus rating of "Hold" and an average target price of $11.09.

EverCommerce Stock Up 0.1 %

NASDAQ EVCM traded up $0.01 on Friday, hitting $9.98. The stock had a trading volume of 134,176 shares, compared to its average volume of 134,166. The business's fifty day moving average price is $10.14 and its 200 day moving average price is $10.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. EverCommerce has a 52-week low of $8.10 and a 52-week high of $12.35. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -35.64 and a beta of 1.12.

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EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm had revenue of $175.00 million during the quarter, compared to analysts' expectations of $170.48 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. EverCommerce's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that EverCommerce will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Matthew David Feierstein sold 20,401 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at $23,968,948.14. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Richard Remer sold 7,235 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $11.22, for a total transaction of $81,176.70. Following the sale, the chief executive officer now directly owns 7,898,225 shares of the company's stock, valued at approximately $88,618,084.50. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,735 shares of company stock worth $1,864,596. Company insiders own 11.60% of the company's stock.

Institutional Trading of EverCommerce

Several large investors have recently bought and sold shares of EVCM. BNP Paribas Financial Markets purchased a new position in shares of EverCommerce during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC boosted its position in shares of EverCommerce by 145.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock worth $38,000 after purchasing an additional 2,040 shares during the period. Deutsche Bank AG boosted its position in shares of EverCommerce by 919.0% during the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after purchasing an additional 3,667 shares during the period. Wells Fargo & Company MN boosted its position in shares of EverCommerce by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after purchasing an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of EverCommerce during the 4th quarter worth approximately $119,000. Hedge funds and other institutional investors 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.