EverCommerce (NASDAQ:EVCM) Stock Price Expected to Rise, Piper Sandler Analyst Says

EverCommerce (NASDAQ:EVCM) had its price objective increased by equities research analysts at Piper Sandler from $10.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential downside of 0.63% from the company’s current price.

Several other equities analysts have also recently issued reports on EVCM. Deutsche Bank Aktiengesellschaft boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI increased their target price 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. Finally, JPMorgan Chase & Co. raised their target price on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Price Performance

NASDAQ:EVCM opened at $11.07 on Wednesday. The firm’s fifty day moving average is $10.62 and its two-hundred day moving average is $10.52. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -39.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. EverCommerce has a one year low of $6.22 and a one year high of $12.35.

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

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 10,311 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.69, for a total transaction of $110,224.59. Following the completion of the sale, the chief executive officer now directly owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVCM. Vanguard Group Inc. raised its position in shares of 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 last quarter. Dimensional Fund Advisors LP grew its stake in EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after acquiring an additional 95,934 shares in the last quarter. Millennium Management LLC raised its holdings in EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after acquiring an additional 281,551 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EverCommerce by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after purchasing an additional 9,595 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after purchasing an additional 44,378 shares during the last quarter. Institutional investors and hedge funds 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.