Barclays Cuts EverCommerce (NASDAQ:EVCM) Price Target to $9.00

EverCommerce (NASDAQ:EVCM) had its price objective lowered by Barclays from $12.00 to $9.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

EVCM has been the subject of a number of other reports. Royal Bank of Canada decreased 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. Jefferies Financial Group decreased their price objective on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday. Finally, Oppenheimer decreased their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.27.

EverCommerce Stock Up 4.6 %

Shares of NASDAQ EVCM opened at $9.36 on Friday. The stock has a market cap of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce has a 52-week low of $8.10 and a 52-week high of $12.35. The business has a 50-day moving average price of $10.17 and a 200 day moving average price of $10.71.

EverCommerce (NASDAQ:EVCM) last announced its earnings results 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). The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. Equities research analysts forecast that EverCommerce will post -0.17 earnings per share for the current year.

Insider Activity

In other news, CEO Eric Richard Remer sold 7,130 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $11.99, for a total value of $85,488.70. Following the completion of the sale, the chief executive officer now directly owns 7,913,929 shares of the company’s stock, valued at $94,888,008.71. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Matthew David Feierstein sold 20,401 shares of the firm’s stock in a transaction that occurred on 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 $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. Insiders sold 188,865 shares of company stock valued at $1,950,085 in the last three months. 11.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in EverCommerce by 305.6% in 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 in the last quarter. JPMorgan Chase & Co. increased its stake in EverCommerce by 161.4% in 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 in the last quarter. Edgestream Partners L.P. purchased a new position in EverCommerce in the 3rd quarter valued at approximately $536,000. Janus Henderson Group PLC increased its stake in EverCommerce by 1.2% in 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 in the last quarter. Finally, State Street Corp increased its stake in EverCommerce by 2.4% in 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 in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.