EverCommerce (NASDAQ:EVCM) Given New $12.00 Price Target at Barclays

EverCommerce (NASDAQ:EVCM) had its price target increased by Barclays from $9.00 to $12.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts also recently commented on EVCM. Oppenheimer upped their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada upped their target price on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler raised their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Price Performance

Shares of EverCommerce stock opened at $11.12 on Wednesday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -39.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.68 and a current ratio of 1.81. The stock has a 50 day moving average price of $10.64 and a 200-day moving average price of $10.54. EverCommerce has a one year low of $6.22 and a one year high of $12.35.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. The business’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that EverCommerce will post -0.09 EPS for the current year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 18,142 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.73, for a total transaction of $212,805.66. Following the transaction, the chief executive officer now owns 8,005,806 shares of the company’s stock, valued at approximately $93,908,104.38. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 111,377 shares of company stock valued at $1,217,786 over the last three months. 11.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently modified their holdings of EVCM. SG Americas Securities LLC purchased a new position in EverCommerce during the third quarter valued at approximately $107,000. Edgestream Partners L.P. bought a new stake in EverCommerce during the 1st quarter valued at $123,000. The Manufacturers Life Insurance Company increased its holdings in shares of EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after acquiring an additional 1,089 shares during the period. Renaissance Technologies LLC raised its position in shares of EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after acquiring an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in shares of EverCommerce during the 3rd quarter worth $241,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.