Barclays Boosts EverCommerce (NASDAQ:EVCM) Price Target to $12.00

EverCommerce (NASDAQ:EVCM) had its price objective lifted by equities research analysts at Barclays from $9.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 2.21% from the company’s current price.

Several other research firms have also issued reports on EVCM. Royal Bank of Canada boosted their target price on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler raised their price objective on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Evercore ISI increased 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. Finally, Oppenheimer boosted their price target on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.22.

EverCommerce Price Performance

Shares of EVCM traded down $0.24 on Wednesday, hitting $11.74. The company’s stock had a trading volume of 34,232 shares, compared to its average volume of 140,494. The company has a 50 day moving average price of $10.59 and a 200 day moving average price of $10.51. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The company has a market capitalization of $2.16 billion, a PE ratio of -51.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68.

EverCommerce (NASDAQ:EVCM) last announced 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 5.33% and a negative net margin of 6.31%. The business had revenue of $176.26 million for 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. On average, research analysts anticipate that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the sale, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at $86,847,302.47. This represents 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 the SEC website. Insiders have sold 89,310 shares of company stock valued at $965,566 over the last ninety days. 11.60% of the stock is currently owned by company insiders.

Institutional Trading of EverCommerce

Several institutional investors and hedge funds have recently modified their holdings of EVCM. RIA Advisory Group LLC acquired a new position in EverCommerce during the third quarter worth about $241,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of EverCommerce during the third quarter valued at about $570,000. SG Americas Securities LLC bought a new position in EverCommerce during the 3rd quarter worth $107,000. The Manufacturers Life Insurance Company increased its position in EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares during the period. Finally, Millennium Management LLC increased its position in shares of EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after buying an additional 281,551 shares during the period. 97.91% of the stock is currently owned by institutional investors.

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.