Oppenheimer Lowers EverCommerce (NASDAQ:EVCM) Price Target to $12.00

EverCommerce (NASDAQ:EVCM) had its price target dropped by research analysts at Oppenheimer from $13.00 to $12.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 28.21% from the stock’s previous close.

EverCommerce Trading Up 4.6 %

EverCommerce stock opened at $9.36 on Friday. EverCommerce has a 52-week low of $8.10 and a 52-week high of $12.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.72 billion, a P/E ratio of -33.43 and a beta of 1.12. The business has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $10.71.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $170.48 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 10,117 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the transaction, the chief executive officer now directly owns 7,686,872 shares of the company’s stock, valued at approximately $69,566,191.60. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the completion of the transaction, the president now directly owns 2,217,294 shares in the company, valued at approximately $23,968,948.14. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,865 shares of company stock valued at $1,950,085. Corporate insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of EverCommerce during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 2,040 shares in the last quarter. Deutsche Bank AG raised its holdings 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 acquiring an additional 3,667 shares in the last quarter. Wells Fargo & Company MN raised its holdings 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 acquiring an additional 3,106 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of EverCommerce during the 4th quarter worth approximately $119,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.