EverCommerce (NASDAQ:EVCM) Stock Price Expected to Rise, JMP Securities Analyst Says

EverCommerce (NASDAQ:EVCM) had its price target raised by JMP Securities from $12.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

EVCM has been the topic of several other reports. Evercore ISI lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their price objective on EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Piper Sandler upped their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.56.

EverCommerce Stock Up 0.5 %

Shares of EVCM opened at $11.12 on Wednesday. The firm has a 50 day simple moving average of $10.64 and a two-hundred day simple moving average of $10.54. The company has a market cap of $2.04 billion, a P/E ratio of -39.71 and a beta of 1.07. EverCommerce has a one year low of $6.22 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.68.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. The business’s quarterly revenue was up .9% on a year-over-year basis. Research analysts forecast that EverCommerce will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 5,436 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total transaction of $54,849.24. Following the completion of the sale, the chief executive officer now owns 8,100,550 shares of the company’s stock, valued at approximately $81,734,549.50. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 111,377 shares of company stock valued at $1,217,786. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after buying an additional 30,481 shares during the period. State Street Corp raised its position in shares of EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after acquiring an additional 12,156 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of EverCommerce by 39.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after purchasing an additional 95,934 shares during the period. Millennium Management LLC boosted its position in shares of EverCommerce by 673.4% during the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after purchasing an additional 281,551 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after purchasing an additional 3,837 shares during the period. 97.91% of the stock is owned by 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.