JMP Securities Issues Positive Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its target price boosted by JMP Securities from $12.00 to $15.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research firms also recently commented on EVCM. Deutsche Bank Aktiengesellschaft upped their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Evercore ISI upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler raised their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. upped 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. Finally, Oppenheimer lifted their price target on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, EverCommerce has a consensus rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Stock Performance

Shares of EVCM opened at $11.14 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a 50-day moving average of $10.60 and a 200-day moving average of $10.51. The company has a market cap of $2.05 billion, a PE ratio of -39.78 and a beta of 1.07. EverCommerce has a one year low of $6.22 and a one year high of $12.35.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.49%. The business had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts forecast that EverCommerce will post -0.09 earnings per share for the current year.

Insider Activity

In related news, CEO Eric Richard Remer sold 18,142 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.73, for a total value of $212,805.66. Following the transaction, the chief executive officer now owns 8,005,806 shares in the company, valued at approximately $93,908,104.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 89,310 shares of company stock worth $965,566. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVCM. The Manufacturers Life Insurance Company boosted its holdings in shares of EverCommerce by 10.6% in 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of EverCommerce by 19.4% during the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in EverCommerce by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock valued at $1,805,000 after buying an additional 9,595 shares in the last quarter. SG Americas Securities LLC bought a new position in EverCommerce in the third quarter valued at about $107,000. Finally, Edgestream Partners L.P. acquired a new position in EverCommerce during the first quarter worth about $123,000. 97.91% of the stock is 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.