EverCommerce (NASDAQ:EVCM) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of EverCommerce (NASDAQ:EVCM – Get Rating) in a research report report published on Thursday, Benzinga reports. They currently have a $17.00 target price on the stock.

Several other equities research analysts have also recently weighed in on EVCM. Piper Sandler restated a neutral rating and set a $9.00 target price on shares of EverCommerce in a research note on Thursday. Barclays boosted their target price on EverCommerce from $9.00 to $10.00 and gave the stock an equal weight rating in a research note on Thursday. Royal Bank of Canada boosted their price objective on EverCommerce from $11.00 to $12.00 and gave the company an outperform rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on EverCommerce from $12.00 to $11.00 and set a buy rating for the company in a research note on Monday, January 23rd. Finally, Evercore ISI reduced their price objective on EverCommerce to $11.00 in a research note on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $11.54.

EverCommerce Stock Performance

EVCM stock opened at $10.25 on Thursday. The business has a 50 day moving average price of $9.74 and a 200 day moving average price of $8.97. EverCommerce has a fifty-two week low of $5.87 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85.

Insider Activity

In other news, CTO Samuel Christopher Alaimo sold 3,039 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $9.58, for a total value of $29,113.62. Following the transaction, the chief technology officer now owns 101,696 shares of the company’s stock, valued at $974,247.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Samuel Christopher Alaimo sold 3,039 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $9.58, for a total value of $29,113.62. Following the transaction, the chief technology officer now owns 101,696 shares of the company’s stock, valued at $974,247.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Sarah Michelle Jordan sold 3,315 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $9.58, for a total value of $31,757.70. Following the completion of the transaction, the chief marketing officer now directly owns 86,960 shares in the company, valued at approximately $833,076.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,695 shares of company stock valued at $440,763. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVCM. Vanguard Group Inc. grew its holdings in EverCommerce by 603.8% during the first quarter. Vanguard Group Inc. now owns 2,493,476 shares of the company’s stock worth $32,914,000 after acquiring an additional 2,139,198 shares during the period. BlackRock Inc. grew its holdings in EverCommerce by 55.2% during the first quarter. BlackRock Inc. now owns 1,551,990 shares of the company’s stock worth $20,485,000 after acquiring an additional 551,952 shares during the period. AQR Capital Management LLC grew its holdings in EverCommerce by 301.4% during the fourth quarter. AQR Capital Management LLC now owns 447,832 shares of the company’s stock worth $3,332,000 after acquiring an additional 336,272 shares during the period. Standard Investments LLC grew its holdings in EverCommerce by 4.3% during the fourth quarter. Standard Investments LLC now owns 6,115,000 shares of the company’s stock worth $45,496,000 after acquiring an additional 250,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in EverCommerce by 320.7% during the second quarter. JPMorgan Chase & Co. now owns 237,879 shares of the company’s stock worth $2,151,000 after purchasing an additional 181,331 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

About EverCommerce

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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.