EverCommerce (NASDAQ:EVCM) Stock Gets Price Target Reduction from Barclays

EverCommerce (NASDAQ:EVCM) had its price target trimmed by Barclays from $10.00 to $8.50 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities research analysts have also recently commented on EVCM. Wall Street Zen raised EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. Weiss Ratings lowered EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, November 3rd. Royal Bank Of Canada dropped their target price on shares of EverCommerce from $10.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Friday, November 6th. Deutsche Bank lowered EverCommerce from a “buy” rating to a “hold” rating and lowered their price target for the company from $12.00 to $7.00 in a research note on Friday, November 6th. Finally, Oppenheimer dropped their price objective on shares of EverCommerce from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $8.42.

EverCommerce Stock Down 2.3%

Shares of EverCommerce stock opened at $6.88 on Monday. The company has a market capitalization of $1.21 billion, a P/E ratio of 45.87, a PEG ratio of 0.87 and a beta of 0.63. The business’s fifty day moving average price is $8.48 and its two-hundred day moving average price is $10.17. EverCommerce has a 1-year low of $6.01 and a 1-year high of $14.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.13 and a quick ratio of 2.13.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). The firm had revenue of $151.45 million for the quarter, compared to the consensus estimate of $152.91 million. EverCommerce had a net margin of 4.81% and a return on equity of 4.00%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, research analysts forecast that EverCommerce will post 0.52 EPS for the current year.

Insider Activity at EverCommerce

In related news, Director Eric Remer sold 6,354 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total value of $51,276.78. Following the sale, the director directly owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. The trade was a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Matthew Feierstein sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the president directly owned 1,961,214 shares of the company’s stock, valued at approximately $19,612,140. This trade represents a 0.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 363,988 shares of company stock worth $3,401,863 over the last 90 days. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Edgestream Partners L.P. bought a new stake in shares of EverCommerce during the 3rd quarter valued at $153,000. Ethic Inc. acquired a new stake in shares of EverCommerce during the 3rd quarter valued at $88,000. Black Diamond Financial LLC bought a new stake in shares of EverCommerce during the third quarter worth about $2,464,000. Engineers Gate Manager LP grew its holdings in EverCommerce by 16.7% during the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after acquiring an additional 2,982 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of EverCommerce in the second quarter worth $125,000. 97.91% of the stock is owned by institutional investors.

About EverCommerce

EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.