Piper Sandler Boosts EverCommerce (NASDAQ:EVCM) Price Target to $11.00

EverCommerce (NASDAQ:EVCM) had its target price boosted by Piper Sandler from $10.00 to $11.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. increased their price target on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Stock Down 1.5 %

NASDAQ:EVCM traded down $0.17 during trading hours on Wednesday, hitting $10.97. The stock had a trading volume of 7,664 shares, compared to its average volume of 140,528. The company has a market cap of $2.02 billion, a PE ratio of -39.78 and a beta of 1.07. The business has a 50 day simple moving average of $10.60 and a two-hundred day simple moving average of $10.51. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.49%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts predict that EverCommerce will post -0.09 EPS for the current year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of EverCommerce stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total value of $75,888.31. Following the completion of the transaction, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at $86,847,302.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in EverCommerce during the third quarter worth about $107,000. The Manufacturers Life Insurance Company raised its position in shares of EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after purchasing an additional 1,089 shares during the period. Edgestream Partners L.P. bought a new stake in shares of EverCommerce in the 1st quarter worth approximately $123,000. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 2,700 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new position in EverCommerce during the 3rd quarter valued at approximately $241,000. 97.91% of the stock is currently owned by institutional investors.

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.