Barclays Issues Pessimistic Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target reduced by equities research analysts at Barclays from $11.00 to $10.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 9.41% from the stock’s current price.

Several other equities analysts have also recently weighed in on EVCM. Royal Bank Of Canada lowered their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Zacks Research lowered EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a report on Wednesday, October 8th. Lake Street Capital set a $11.00 price objective on shares of EverCommerce in a report on Tuesday, October 14th. Finally, Piper Sandler boosted their target price on shares of EverCommerce from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.44.

EverCommerce Trading Down 2.2%

Shares of EverCommerce stock traded down $0.21 on Monday, hitting $9.14. The stock had a trading volume of 268,420 shares, compared to its average volume of 186,442. The stock’s 50-day simple moving average is $11.40 and its two-hundred day simple moving average is $10.82. EverCommerce has a one year low of $7.66 and a one year high of $12.34. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -911.59, a PEG ratio of 5.39 and a beta of 1.05.

Insider Buying and Selling

In other news, President Matthew David Feierstein sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the transaction, the president directly owned 2,211,383 shares of the company’s stock, valued at $24,855,944.92. This represents a 1.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric Richard Remer sold 22,139 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.54, for a total value of $233,345.06. Following the transaction, the chief executive officer directly owned 5,220,024 shares of the company’s stock, valued at $55,019,052.96. The trade was a 0.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 262,600 shares of company stock valued at $2,956,358 over the last three months. 10.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in EverCommerce by 328.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock valued at $7,502,000 after acquiring an additional 547,712 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of EverCommerce in the second quarter valued at approximately $5,039,000. Squarepoint Ops LLC purchased a new position in EverCommerce during the second quarter worth approximately $595,000. Lazard Asset Management LLC boosted its stake in EverCommerce by 5,995.2% during the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock worth $523,000 after buying an additional 49,041 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in EverCommerce in the 1st quarter valued at $493,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About EverCommerce

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.