JMP Securities Issues Positive Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target hoisted by JMP Securities from $12.00 to $15.00 in a research report released on Wednesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

EVCM has been the subject of several other reports. JPMorgan Chase & Co. raised 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. Royal Bank of Canada raised their price objective on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI upped their target price on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Piper Sandler raised their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays upped their price objective on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday. One investment 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’s stock. Based on data from MarketBeat, EverCommerce presently has an average rating of “Moderate Buy” and an average price target of $12.56.

EverCommerce Stock Performance

Shares of EVCM stock opened at $11.14 on Wednesday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -39.78 and a beta of 1.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $10.60 and its 200-day moving average price is $10.51. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.49% and a negative net margin of 7.53%. The business had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The company’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that EverCommerce will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 5,436 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $10.09, for a total value of $54,849.24. Following the completion of the sale, the chief executive officer now directly owns 8,100,550 shares of the company’s stock, valued at $81,734,549.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 89,310 shares of company stock valued at $965,566 over the last ninety days. 11.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of EverCommerce in the 3rd quarter worth about $107,000. Edgestream Partners L.P. purchased a new stake in shares of EverCommerce in the first quarter worth approximately $123,000. The Manufacturers Life Insurance Company boosted its position in shares of EverCommerce by 10.6% during 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. Renaissance Technologies LLC grew its holdings in EverCommerce by 19.4% during the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in EverCommerce in the 3rd quarter valued at $241,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.