EverCommerce (NASDAQ:EVCM) Price Target Lowered to $9.00 at Piper Sandler

EverCommerce (NASDAQ:EVCM) had its price target cut by Piper Sandler from $11.00 to $9.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently commented on EVCM. Oppenheimer reduced their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday. Barclays reduced their target price on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday. Jefferies Financial Group reduced their target price on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday. The Goldman Sachs Group reduced their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reduced their target price on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.09.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $9.97 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. EverCommerce has a 52-week low of $8.10 and a 52-week high of $12.35. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -35.61 and a beta of 1.12. The business’s fifty day moving average is $10.15 and its 200 day moving average is $10.71.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $170.48 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 5,453 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $10.56, for a total value of $57,583.68. Following the completion of the sale, the chief executive officer now owns 7,892,772 shares of the company’s stock, valued at approximately $83,347,672.32. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Matthew David Feierstein sold 20,401 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total value of $220,534.81. Following the completion of the sale, the president now directly owns 2,217,294 shares of the company’s stock, valued at approximately $23,968,948.14. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 181,735 shares of company stock worth $1,864,596. 11.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after purchasing an additional 22,360 shares during the last quarter. JPMorgan Chase & Co. raised its position in EverCommerce by 161.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after purchasing an additional 63,139 shares during the last quarter. Edgestream Partners L.P. bought a new position in EverCommerce during the 3rd quarter valued at approximately $536,000. Janus Henderson Group PLC raised its position in EverCommerce by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after purchasing an additional 3,837 shares during the last quarter. Finally, State Street Corp raised its position in EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after purchasing an additional 12,156 shares during the last quarter. Institutional investors 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.