EverCommerce (NASDAQ:EVCM) Price Target Raised to $15.00 at JMP Securities

EverCommerce (NASDAQ:EVCM) had its target price upped by JMP Securities from $12.00 to $15.00 in a report issued on Wednesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Piper Sandler lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI lifted their target price on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price target on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday. Oppenheimer raised their price target on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays upped their price objective on EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Up 0.5 %

EVCM stock opened at $11.12 on Wednesday. The business has a 50-day moving average of $10.64 and a 200-day moving average of $10.54. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The stock has a market capitalization of $2.04 billion, a P/E ratio of -39.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.68.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 5,436 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total value of $54,849.24. Following the transaction, the chief executive officer now directly owns 8,100,550 shares of the company’s stock, valued at $81,734,549.50. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 111,377 shares of company stock worth $1,217,786. 11.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of EverCommerce during the third quarter worth approximately $107,000. The Manufacturers Life Insurance Company grew its holdings in EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after buying an additional 1,089 shares in the last quarter. Edgestream Partners L.P. bought a new position in EverCommerce during the 1st quarter worth $123,000. Renaissance Technologies LLC lifted its holdings in shares of EverCommerce by 19.4% during the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new stake in shares of EverCommerce in the third quarter valued at about $241,000. 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.