JPMorgan Chase & Co. lowered shares of EverCommerce (NASDAQ:EVCM – Free Report) from an overweight rating to a neutral rating in a report published on Wednesday, Marketbeat.com reports. They currently have $12.00 price target on the stock, down from their prior price target of $14.00.
A number of other analysts also recently weighed in on EVCM. Royal Bank of Canada restated an outperform rating and issued a $14.00 target price on shares of EverCommerce in a report on Tuesday, August 8th. Barclays boosted their target price on shares of EverCommerce from $11.00 to $12.50 and gave the stock an equal weight rating in a report on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of EverCommerce from $15.00 to $13.00 in a report on Tuesday, August 8th. Finally, Piper Sandler upped their price target on shares of EverCommerce from $9.00 to $11.00 and gave the company a neutral rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $11.88.
View Our Latest Analysis on EverCommerce
EverCommerce Stock Performance
EverCommerce (NASDAQ:EVCM – Get Free Report) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. EverCommerce had a negative net margin of 8.49% and a negative return on equity of 5.58%. The company had revenue of $170.05 million for the quarter, compared to the consensus estimate of $170.23 million. During the same period in the previous year, the firm posted ($0.06) EPS. EverCommerce’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that EverCommerce will post -0.18 EPS for the current fiscal year.
Insider Buying and Selling at EverCommerce
In other EverCommerce news, CMO Sarah Michelle Jordan sold 14,101 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $9.58, for a total value of $135,087.58. Following the completion of the sale, the chief marketing officer now directly owns 176,711 shares of the company’s stock, valued at approximately $1,692,891.38. The transaction was disclosed in a filing with the SEC, which is available through this link. In other EverCommerce news, CMO Sarah Michelle Jordan sold 14,101 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $9.58, for a total value of $135,087.58. Following the completion of the sale, the chief marketing officer now directly owns 176,711 shares of the company’s stock, valued at approximately $1,692,891.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Evan Berlin sold 2,574 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $10.02, for a total transaction of $25,791.48. Following the completion of the sale, the chief operating officer now directly owns 285,736 shares of the company’s stock, valued at $2,863,074.72. The disclosure for this sale can be found here. Insiders sold a total of 47,494 shares of company stock valued at $468,435 in the last three months. Company insiders own 11.50% of the company’s stock.
Institutional Investors Weigh In On EverCommerce
Hedge funds have recently modified their holdings of the business. UBS Group AG lifted its position in shares of EverCommerce by 871.7% in the 3rd quarter. UBS Group AG now owns 2,711 shares of the company’s stock worth $29,000 after purchasing an additional 2,432 shares during the period. Legato Capital Management LLC lifted its position in shares of EverCommerce by 39.3% in the 2nd quarter. Legato Capital Management LLC now owns 87,826 shares of the company’s stock worth $1,040,000 after purchasing an additional 24,771 shares during the period. Kent Lake Capital LLC purchased a new stake in shares of EverCommerce in the 2nd quarter worth approximately $496,000. Prelude Capital Management LLC purchased a new stake in shares of EverCommerce in the 2nd quarter worth approximately $156,000. Finally, BCK Capital Management LP purchased a new stake in shares of EverCommerce in the 2nd quarter worth approximately $1,012,000. Hedge funds and other institutional investors own 88.92% 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 engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.
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