Royal Bank of Canada Forecasts Strong Price Appreciation for EverCommerce (NASDAQ:EVCM) Stock

EverCommerce (NASDAQ:EVCM) had its target price boosted by Royal Bank of Canada from $12.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 17.55% from the company’s previous close.

EVCM has been the subject of a number of other research reports. Piper Sandler boosted their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI boosted their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Oppenheimer boosted their target price on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.89.

EverCommerce Trading Down 0.6 %

Shares of NASDAQ EVCM traded down $0.07 on Wednesday, reaching $11.91. 8,997 shares of the company traded hands, compared to its average volume of 140,379. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The company has a 50 day moving average of $10.59 and a 200 day moving average of $10.51. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.19 billion, a PE ratio of -51.78 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $10.69, for a total transaction of $75,888.31. Following the sale, the chief executive officer now directly owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 89,310 shares of company stock valued at $965,566. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in EverCommerce by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after buying an additional 1,089 shares during the period. Renaissance Technologies LLC increased its position in EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares during the period. Bank of New York Mellon Corp increased its position in EverCommerce by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after buying an additional 9,595 shares during the period. SG Americas Securities LLC acquired a new stake in EverCommerce in the third quarter worth $107,000. Finally, Edgestream Partners L.P. acquired a new stake in EverCommerce in the first quarter worth $123,000. 97.91% of the stock is owned by institutional investors and hedge funds.

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.