EverCommerce’s (EVCM) Neutral Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of EverCommerce (NASDAQ:EVCM) in a report published on Friday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. reiterated an underweight rating and issued a $10.00 target price (down from $11.00) on shares of EverCommerce in a research note on Friday. Royal Bank of Canada decreased their price objective on shares of EverCommerce from $12.00 to $11.00 and set an outperform rating for the company in a research note on Friday. Barclays decreased their price objective on shares of EverCommerce from $10.00 to $9.00 and set an equal weight rating for the company in a research note on Friday. Finally, JMP Securities restated a market outperform rating and set a $12.00 price objective on shares of EverCommerce in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $11.13.

EverCommerce Trading Up 3.9 %

Shares of NASDAQ EVCM traded up $0.33 during mid-day trading on Friday, reaching $8.78. The company had a trading volume of 396,874 shares, compared to its average volume of 113,364. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61. EverCommerce has a 52 week low of $6.22 and a 52 week high of $13.47. The business’s 50-day moving average is $9.85 and its 200-day moving average is $9.79. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -38.17 and a beta of 1.08.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.10). EverCommerce had a negative return on equity of 5.30% and a negative net margin of 6.75%. The firm had revenue of $169.44 million during the quarter, compared to analysts’ expectations of $172.41 million. Equities analysts expect that EverCommerce will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Eric Richard Remer sold 3,794 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.61, for a total transaction of $36,460.34. Following the completion of the sale, the chief executive officer now owns 1,305,407 shares of the company’s stock, valued at $12,544,961.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 22,412 shares of company stock valued at $220,221. 11.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Great Lakes Advisors LLC increased its stake in shares of EverCommerce by 143.9% during the third quarter. Great Lakes Advisors LLC now owns 142,627 shares of the company’s stock worth $1,431,000 after buying an additional 84,147 shares during the period. Bank of New York Mellon Corp increased its stake in EverCommerce by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 185,359 shares of the company’s stock valued at $1,859,000 after purchasing an additional 3,831 shares during the last quarter. Legato Capital Management LLC increased its stake in EverCommerce by 39.3% in the second quarter. Legato Capital Management LLC now owns 87,826 shares of the company’s stock valued at $1,040,000 after purchasing an additional 24,771 shares during the last quarter. Kent Lake Capital LLC purchased a new position in EverCommerce in the second quarter valued at approximately $496,000. Finally, BCK Capital Management LP purchased a new position in EverCommerce in the second quarter valued at approximately $1,012,000. Institutional investors and hedge funds 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.