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

EverCommerce (NASDAQ:EVCM) had its price objective raised by equities research analysts at Barclays from $9.00 to $11.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 2.47% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group lowered their target price on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a report on Friday, March 14th. Canaccord Genuity Group boosted their price objective on EverCommerce from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler cut their price target on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group lowered their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Friday, March 14th. Finally, Oppenheimer cut their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.36.

EverCommerce Trading Up 2.5%

Shares of EVCM traded up $0.28 during midday trading on Monday, reaching $11.28. The company had a trading volume of 33,224 shares, compared to its average volume of 134,338. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35. The stock has a market cap of $2.07 billion, a PE ratio of -40.28 and a beta of 1.07. The firm has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $10.61. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68.

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

Insider Activity

In other news, CEO Eric Richard Remer sold 7,026 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.94, for a total transaction of $76,864.44. Following the completion of the sale, the chief executive officer now directly owns 7,758,632 shares of the company’s stock, valued at $84,879,434.08. The trade was a 0.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Matthew David Feierstein sold 15,837 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.02, for a total value of $158,686.74. Following the sale, the president now owns 2,392,252 shares of the company’s stock, valued at $23,970,365.04. The trade was a 0.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,099 shares of company stock valued at $2,708,180 in the last ninety days. Company insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

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

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.