EverCommerce (NASDAQ:EVCM) Given New $9.00 Price Target at Piper Sandler

EverCommerce (NASDAQ:EVCM) had its target price reduced by analysts at Piper Sandler from $11.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential downside of 3.85% from the stock’s current price.

Several other research analysts have also recently weighed in on EVCM. The Goldman Sachs Group cut their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday. Barclays reduced their price target on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday. Oppenheimer lowered their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada reduced their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Jefferies Financial Group lowered their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.09.

EverCommerce Stock Performance

NASDAQ EVCM opened at $9.36 on Monday. The company has a fifty day moving average price of $10.17 and a 200-day moving average price of $10.71. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. EverCommerce has a 1 year low of $8.10 and a 1 year high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. During the same quarter last year, the business posted ($0.12) EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that EverCommerce will post -0.17 EPS for the current fiscal year.

Insider Activity

In other EverCommerce news, President Matthew David Feierstein sold 2,888 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total value of $28,908.88. Following the sale, the president now directly owns 2,209,807 shares in the company, valued at $22,120,168.07. This represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Richard Remer sold 7,130 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $11.99, for a total transaction of $85,488.70. Following the transaction, the chief executive officer now owns 7,913,929 shares of the company’s stock, valued at $94,888,008.71. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,865 shares of company stock worth $1,950,085. 11.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of EverCommerce by 305.6% in the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after buying an additional 22,360 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after acquiring an additional 63,139 shares during the period. Edgestream Partners L.P. bought a new position in shares of EverCommerce during the third quarter valued at about $536,000. Janus Henderson Group PLC raised its stake in shares of EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after acquiring an additional 3,837 shares during the last quarter. Finally, State Street Corp grew its stake in shares of EverCommerce by 2.4% in the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after purchasing an additional 12,156 shares during the last quarter. 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.