Brokerages Set EverCommerce Inc. (NASDAQ:EVCM) Target Price at $11.00

Shares of EverCommerce Inc. (NASDAQ:EVCM) have been assigned a consensus rating of “Reduce” from the ten analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages have commented on EVCM. Barclays decreased their price objective on shares of EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Lake Street Capital set a $11.00 price target on shares of EverCommerce in a report on Tuesday, October 14th. Zacks Research cut shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Raymond James Financial cut EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada downgraded EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a research report on Monday, January 5th.

Insider Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 32,706 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $9.87, for a total value of $322,808.22. Following the transaction, the chief executive officer directly owned 2,833,139 shares of the company’s stock, valued at approximately $27,963,081.93. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 10,921 shares of EverCommerce stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $10.03, for a total transaction of $109,537.63. Following the sale, the president directly owned 2,100,919 shares of the company’s stock, valued at $21,072,217.57. This represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 335,503 shares of company stock worth $3,731,292. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after purchasing an additional 1,190 shares during the period. Federated Hermes Inc. grew its position in shares of EverCommerce by 118.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after buying an additional 1,667 shares during the period. American Century Companies Inc. grew its position in shares of EverCommerce by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock worth $290,000 after buying an additional 4,576 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of EverCommerce in the 3rd quarter valued at about $91,000. Finally, R Squared Ltd acquired a new stake in shares of EverCommerce in the 3rd quarter valued at approximately $122,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Price Performance

EverCommerce stock opened at $10.76 on Monday. The business’s fifty day moving average is $11.65 and its two-hundred day moving average is $11.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market cap of $1.93 billion, a P/E ratio of -1,074.93, a P/E/G ratio of 2.19 and a beta of 1.03. EverCommerce has a 52 week low of $7.66 and a 52 week high of $14.41.

About EverCommerce

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.