Jefferies Financial Group Cuts EverCommerce (NASDAQ:EVCM) Price Target to $10.00

EverCommerce (NASDAQ:EVCM) had its price objective lowered by Jefferies Financial Group from $12.00 to $10.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.27.

EverCommerce Price Performance

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

EverCommerce (NASDAQ:EVCM) 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). The business had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. Research analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at EverCommerce

In other news, President Matthew David Feierstein sold 20,401 shares of the stock in a transaction on 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 sale, the president now directly owns 2,217,294 shares in the company, valued at $23,968,948.14. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Richard Remer sold 5,117 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.39, for a total transaction of $53,165.63. Following the completion of the sale, the chief executive officer now owns 7,862,366 shares of the company’s stock, valued at $81,689,982.74. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,865 shares of company stock worth $1,950,085 over the last three months. 11.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverCommerce

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new position in shares of EverCommerce during the fourth quarter valued at about $127,000. Woodline Partners LP lifted its position in shares of EverCommerce by 24.8% during the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after purchasing an additional 106,359 shares in the last quarter. State of Wyoming boosted its stake in EverCommerce by 245.4% in the fourth quarter. State of Wyoming now owns 32,875 shares of the company’s stock valued at $362,000 after acquiring an additional 23,356 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in EverCommerce in the fourth quarter valued at about $143,000. Finally, Janus Henderson Group PLC boosted its stake in EverCommerce by 34.6% in the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after acquiring an additional 110,183 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.