JMP Securities Increases EverCommerce (NASDAQ:EVCM) Price Target to $15.00

EverCommerce (NASDAQ:EVCM) had its price objective hoisted by equities researchers at JMP Securities from $12.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 35.50% from the company’s current price.

Several other research firms have also weighed in on EVCM. Royal Bank of Canada raised their target price on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Price Performance

EVCM stock opened at $11.07 on Wednesday. The firm has a 50 day simple moving average of $10.62 and a 200 day simple moving average of $10.52. EverCommerce has a 52 week low of $6.22 and a 52 week high of $12.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.68 and a current ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts forecast that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 4,200 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $10.37, for a total value of $43,554.00. Following the completion of the transaction, the chief executive officer now owns 8,068,540 shares of the company’s stock, valued at $83,670,759.80. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 111,377 shares of company stock valued at $1,217,786. 11.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

Several large investors have recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new position in EverCommerce in the third quarter valued at about $536,000. RIA Advisory Group LLC acquired a new stake in EverCommerce during the 3rd quarter valued at $241,000. DekaBank Deutsche Girozentrale bought a new position in EverCommerce in the 3rd quarter valued at $570,000. SG Americas Securities LLC bought a new stake in shares of EverCommerce during the third quarter worth $107,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of EverCommerce by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after buying an additional 1,089 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

About EverCommerce

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.