EverCommerce (NASDAQ:EVCM) Stock Price Up 3.7% After Analyst Upgrade

Posted by Defense World Staff on Mar 18th, 2023

EverCommerce Inc. (NASDAQ:EVCM – Get Rating)’s stock price shot up 3.7% during trading on Friday after Oppenheimer raised their price target on the stock from $10.00 to $11.00. Oppenheimer currently has an outperform rating on the stock. EverCommerce traded as high as $11.31 and last traded at $11.15. 73,819 shares changed hands during trading, a decline of 66% from the average session volume of 216,951 shares. The stock had previously closed at $10.75.

EVCM has been the topic of several other research reports. Piper Sandler reissued a “neutral” rating and issued a $9.00 price objective on shares of EverCommerce in a research note on Thursday. Evercore ISI reduced their price target on EverCommerce to $11.00 in a research report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on EverCommerce from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 23rd. Royal Bank of Canada upped their target price on EverCommerce from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of EverCommerce in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, EverCommerce presently has an average rating of “Moderate Buy” and an average target price of $11.54.

Insider Buying and Selling

In related news, CTO Samuel Christopher Alaimo sold 3,039 shares of EverCommerce stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total transaction of $29,113.62. Following the completion of the transaction, the chief technology officer now owns 101,696 shares of the company’s stock, valued at $974,247.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other EverCommerce news, President Matthew David Feierstein sold 7,551 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total value of $72,338.58. Following the completion of the sale, the president now directly owns 2,070,935 shares in the company, valued at $19,839,557.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Samuel Christopher Alaimo sold 3,039 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $9.58, for a total transaction of $29,113.62. Following the completion of the sale, the chief technology officer now owns 101,696 shares of the company’s stock, valued at $974,247.68. The disclosure for this sale can be found here. Insiders sold 47,695 shares of company stock valued at $440,763 over the last quarter. Insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Large investors have recently bought and sold shares of the stock. UBS Group AG grew its holdings in shares of EverCommerce by 871.7% during the third quarter. UBS Group AG now owns 2,711 shares of the company’s stock valued at $29,000 after buying an additional 2,432 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of EverCommerce by 82.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company’s stock valued at $31,000 after buying an additional 1,053 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of EverCommerce during the third quarter valued at about $38,000. Tower Research Capital LLC TRC grew its holdings in shares of EverCommerce by 379.4% during the third quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company’s stock valued at $40,000 after buying an additional 2,868 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of EverCommerce by 507.2% during the second quarter. Lazard Asset Management LLC now owns 5,398 shares of the company’s stock valued at $48,000 after buying an additional 4,509 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Price Performance

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -42.71, a PEG ratio of 1.18 and a beta of 1.21. The business’s fifty day moving average price is $9.74 and its 200-day moving average price is $8.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.85 and a quick ratio of 1.85.

EverCommerce Company Profile

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EverCommerce Inc, together with its subsidiaries, engages in providing 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, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise 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.