Canaccord Genuity Group Issues Positive Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target raised by Canaccord Genuity Group from $13.00 to $14.00 in a report published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

EVCM has been the topic of a number of other reports. The Goldman Sachs Group lowered their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 14th. Barclays lowered their price target on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Jefferies Financial Group lowered their target price on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, March 14th. Royal Bank of Canada lowered their target price on EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Finally, Piper Sandler lowered their target price on EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, EverCommerce currently has an average rating of “Hold” and a consensus price target of $11.36.

EverCommerce Price Performance

Shares of EVCM opened at $10.71 on Monday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -38.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. EverCommerce has a one year low of $8.10 and a one year high of $12.35. The stock’s fifty day moving average is $10.04 and its 200-day moving average is $10.62.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $142.27 million for the quarter, compared to analyst estimates of $146.28 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. Equities analysts anticipate that EverCommerce will post -0.17 EPS for the current year.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 23,119 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $11.26, for a total value of $260,319.94. Following the completion of the transaction, the chief executive officer now owns 7,464,044 shares in the company, valued at $84,045,135.44. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 24,300 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $10.02, for a total value of $243,486.00. Following the completion of the transaction, the president now owns 2,341,006 shares of the company’s stock, valued at $23,456,880.12. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,216 shares of company stock worth $2,832,056 in the last quarter. 11.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of EverCommerce by 48.6% in the 4th quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company’s stock valued at $1,695,000 after purchasing an additional 49,745 shares during the period. Raymond James Financial Inc. acquired a new position in shares of EverCommerce in the 4th quarter valued at $694,000. Charles Schwab Investment Management Inc. boosted its position in shares of EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in EverCommerce by 84.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock worth $1,468,000 after acquiring an additional 61,144 shares during the period. Finally, Barclays PLC boosted its position in EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after acquiring an additional 22,360 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.