EverCommerce (NASDAQ:EVCM) Given New $15.00 Price Target at JMP Securities

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

EVCM has been the subject of several other research reports. Oppenheimer upped their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Barclays lifted their target price on EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada increased their price target on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler lifted their price objective on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Stock Performance

EVCM stock opened at $11.12 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35. The business’s fifty day moving average is $10.64 and its 200-day moving average is $10.53. The company has a market cap of $2.04 billion, a P/E ratio of -39.71 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Equities research analysts forecast that EverCommerce will post -0.09 EPS for the current year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 10,311 shares of EverCommerce stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $10.69, for a total value of $110,224.59. Following the sale, the chief executive officer now directly owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 111,377 shares of company stock valued at $1,217,786. 11.60% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds have recently modified their holdings of EVCM. SG Americas Securities LLC bought a new stake in EverCommerce during the third quarter worth about $107,000. Edgestream Partners L.P. bought a new position in shares of EverCommerce in the first quarter valued at $123,000. The Manufacturers Life Insurance Company increased its holdings in EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after buying an additional 1,089 shares during the last quarter. Renaissance Technologies LLC lifted its stake in EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock valued at $182,000 after acquiring an additional 2,700 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new position in shares of EverCommerce during the 3rd quarter worth about $241,000. Institutional investors 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.