EverCommerce Inc. (NASDAQ:EVCM – Get Free Report) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.56.
EVCM has been the topic of several analyst reports. Barclays increased their target price on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. 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, November 13th. Royal Bank of Canada boosted their target price on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Oppenheimer raised their price target on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, JMP Securities boosted their price objective on EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th.
EverCommerce Stock Up 0.3 %
EverCommerce (NASDAQ:EVCM – Get Free Report) last posted its earnings results 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). The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that EverCommerce will post -0.17 EPS for the current year.
Insider Activity at EverCommerce
In other news, CEO Eric Richard Remer sold 4,834 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $10.58, for a total transaction of $51,143.72. Following the completion of the transaction, the chief executive officer now directly owns 8,079,718 shares of the company’s stock, valued at $85,483,416.44. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew David Feierstein sold 20,401 shares of EverCommerce stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the completion of the sale, the president now owns 2,217,294 shares in the company, valued at $23,968,948.14. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,699 shares of company stock valued at $1,851,669. 11.60% of the stock is owned by insiders.
Hedge Funds Weigh In On EverCommerce
A number of large investors have recently modified their holdings of EVCM. Barclays PLC boosted its position in EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after purchasing an additional 22,360 shares during the last quarter. Millennium Management LLC increased its position in shares of EverCommerce by 673.4% during the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of EverCommerce during the 3rd quarter worth approximately $570,000. Dimensional Fund Advisors LP increased its holdings in EverCommerce by 39.2% during the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in EverCommerce during the third quarter worth $536,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.
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.
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