Piper Sandler Lowers EverCommerce (NASDAQ:EVCM) to Neutral

Piper Sandler cut shares of EverCommerce (NASDAQ:EVCMGet Rating) from an overweight rating to a neutral rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $9.00 price target on the stock, down from their previous price target of $11.00.

Several other brokerages have also commented on EVCM. The Goldman Sachs Group decreased their price objective on EverCommerce from $8.00 to $7.00 and set a sell rating for the company in a report on Monday, November 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of EverCommerce from $16.00 to $12.00 in a research report on Friday, November 11th. Canaccord Genuity Group decreased their price target on shares of EverCommerce from $17.00 to $12.00 in a report on Friday, November 11th. Raymond James cut their target price on EverCommerce from $15.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, November 11th. Finally, JMP Securities lowered their price target on EverCommerce from $23.00 to $17.00 and set a market outperform rating for the company in a research report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, EverCommerce currently has a consensus rating of Moderate Buy and an average target price of 12.79.

EverCommerce Stock Performance

EVCM stock opened at 6.62 on Monday. The firm has a 50-day simple moving average of 8.92 and a two-hundred day simple moving average of 9.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85. EverCommerce has a one year low of 5.93 and a one year high of 17.72. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -27.58, a PEG ratio of 0.81 and a beta of 1.33.

Insider Buying and Selling

In other news, CEO Eric Richard Remer sold 2,611 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of 11.17, for a total value of 29,164.87. Following the completion of the sale, the chief executive officer now directly owns 1,407,335 shares in the company, valued at 15,719,931.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 6,318 shares of company stock valued at $70,572. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVCM. Ameritas Investment Partners Inc. increased its stake in shares of EverCommerce by 82.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company’s stock worth $31,000 after purchasing an additional 1,053 shares in the last quarter. UBS Group AG increased its stake in EverCommerce by 871.7% during the 3rd quarter. UBS Group AG now owns 2,711 shares of the company’s stock worth $29,000 after buying an additional 2,432 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of EverCommerce by 379.4% during the third quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company’s stock valued at $40,000 after acquiring an additional 2,868 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of EverCommerce by 18.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,500 shares of the company’s stock valued at $257,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of EverCommerce in the third quarter worth approximately $38,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for EverCommerce (NASDAQ:EVCM)

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