Royal Bank of Canada Has Lowered Expectations for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target dropped by equities research analysts at Royal Bank of Canada from $14.00 to $11.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 15.36% from the company’s current price.

Separately, Oppenheimer decreased their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.11.

EverCommerce Stock Up 6.5 %

Shares of EVCM traded up $0.59 during midday trading on Friday, reaching $9.54. The stock had a trading volume of 105,739 shares, compared to its average volume of 136,762. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The company’s fifty day simple moving average is $10.20 and its two-hundred day simple moving average is $10.72. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -34.05 and a beta of 1.12. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. EverCommerce’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 7,235 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $11.22, for a total value of $81,176.70. Following the completion of the sale, the chief executive officer now owns 7,898,225 shares of the company’s stock, valued at $88,618,084.50. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew David Feierstein sold 2,888 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $10.01, for a total value of $28,908.88. Following the sale, the president now owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. This represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 178,748 shares of company stock valued at $1,858,526. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of EverCommerce in the fourth quarter worth $29,000. Tower Research Capital LLC TRC boosted its stake in shares of EverCommerce by 145.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after buying an additional 2,040 shares during the period. Deutsche Bank AG raised its holdings in shares of EverCommerce by 919.0% during the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock worth $45,000 after acquiring an additional 3,667 shares in the last quarter. Wells Fargo & Company MN increased its position in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock worth $116,000 after purchasing an additional 3,106 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of EverCommerce during the 4th quarter worth about $119,000. 97.91% of the stock is currently owned by institutional investors.

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 experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.