EverCommerce (NASDAQ:EVCM) Shares Gap Up – What’s Next?

Shares of EverCommerce Inc. (NASDAQ:EVCM) gapped up before the market opened on Thursday . The stock had previously closed at $9.98, but opened at $10.56. EverCommerce shares last traded at $10.05, with a volume of 11,355 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JMP Securities boosted their target price on shares of EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Piper Sandler boosted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Oppenheimer upped their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays upped their target price on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada increased 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, November 13th. 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’s stock. According to MarketBeat, EverCommerce has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Stock Up 1.1 %

The firm’s 50-day moving average price is $10.53 and its 200 day moving average price is $10.76. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -35.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81.

Insider Activity

In other EverCommerce news, CEO Eric Richard Remer sold 9,560 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $11.90, for a total transaction of $113,764.00. Following the transaction, the chief executive officer now owns 7,935,672 shares of the company’s stock, valued at $94,434,496.80. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Matthew David Feierstein sold 7,455 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $12.06, for a total transaction of $89,907.30. Following the transaction, the president now directly owns 2,239,169 shares in the company, valued at approximately $27,004,378.14. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,074 shares of company stock worth $2,054,927 over the last ninety days. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in shares of EverCommerce in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC raised its stake in shares of EverCommerce by 145.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after acquiring an additional 2,040 shares during the period. Deutsche Bank AG raised its stake in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock valued at $45,000 after acquiring an additional 3,667 shares during the period. Wells Fargo & Company MN raised its stake in shares of EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after acquiring an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of EverCommerce in the 4th quarter valued at $119,000. 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.