EverCommerce Inc. (NASDAQ:EVCM) Receives $11.45 Average Target Price from Analysts

EverCommerce Inc. (NASDAQ:EVCM) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.45.

Several brokerages have commented on EVCM. Evercore ISI boosted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $10.37, for a total transaction of $43,554.00. Following the sale, the chief executive officer now owns 8,068,540 shares in the company, valued at $83,670,759.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 50,833 shares of company stock worth $533,031. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently made changes to their positions in EVCM. Millennium Management LLC increased its holdings in shares of EverCommerce by 673.4% during the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after acquiring an additional 281,551 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after purchasing an additional 95,934 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of EverCommerce during the 1st quarter worth $123,000. Vanguard Group Inc. lifted its position in shares of EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after buying an additional 30,481 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after buying an additional 44,378 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

EverCommerce Stock Performance

Shares of EVCM opened at $10.56 on Friday. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -45.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a fifty day moving average of $10.41 and a 200-day moving average of $10.33.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $177.39 million during the quarter, compared to analyst estimates of $171.88 million. EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that EverCommerce will post -0.09 earnings per share for the current year.

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.