EverCommerce (NASDAQ:EVCM) PT Lowered to $9.00 at Barclays

EverCommerce (NASDAQ:EVCM) had its price objective decreased by Barclays from $10.00 to $9.00 in a report released on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms have also recently commented on EVCM. JMP Securities reaffirmed a market outperform rating and set a $12.00 target price on shares of EverCommerce in a research note on Friday. JPMorgan Chase & Co. reaffirmed an underweight rating and set a $10.00 target price (down previously from $11.00) on shares of EverCommerce in a research note on Friday. Finally, Royal Bank of Canada reduced their price objective on EverCommerce from $12.00 to $11.00 and set an outperform rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $11.13.

EverCommerce Price Performance

NASDAQ:EVCM traded up $0.33 during trading hours on Friday, hitting $8.78. The company’s stock had a trading volume of 396,874 shares, compared to its average volume of 113,364. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market capitalization of $1.66 billion, a P/E ratio of -38.17 and a beta of 1.08. EverCommerce has a twelve month low of $6.22 and a twelve month high of $13.47. The stock has a fifty day simple moving average of $9.85 and a 200-day simple moving average of $9.79.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.10). EverCommerce had a negative return on equity of 5.30% and a negative net margin of 6.75%. The company had revenue of $169.44 million for the quarter, compared to the consensus estimate of $172.41 million. On average, analysts anticipate that EverCommerce will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 3,794 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.61, for a total value of $36,460.34. Following the sale, the chief executive officer now directly owns 1,305,407 shares in the company, valued at $12,544,961.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 22,412 shares of company stock worth $220,221. 11.50% of the stock is owned by company insiders.

Institutional Trading of EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG grew its position in EverCommerce by 871.7% during the third quarter. UBS Group AG now owns 2,711 shares of the company’s stock worth $29,000 after buying an additional 2,432 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in EverCommerce by 82.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company’s stock worth $31,000 after buying an additional 1,053 shares in the last quarter. Lazard Asset Management LLC purchased a new position in EverCommerce during the third quarter worth about $34,000. Ensign Peak Advisors Inc purchased a new position in EverCommerce during the third quarter worth about $38,000. Finally, Tower Research Capital LLC TRC grew its position in EverCommerce by 379.4% during the third quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company’s stock worth $40,000 after buying an additional 2,868 shares in the last quarter. 88.92% of the stock is currently owned by institutional investors.

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 engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.