EverCommerce (NASDAQ:EVCM) Stock Price Target Cut by Barclays

EverCommerce (NASDAQ:EVCM) had its target price dropped by analysts at Barclays from $10.00 to $8.50 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential upside of 4.46% from the stock’s previous close.

A number of other brokerages also recently issued reports on EVCM. Wall Street Zen raised EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Oppenheimer lowered their price objective on EverCommerce from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank Of Canada dropped their target price on EverCommerce from $10.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered EverCommerce from a “buy” rating to a “hold” rating and reduced their target price for the company from $12.00 to $7.00 in a research report on Friday. Finally, Weiss Ratings cut EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, November 3rd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $8.42.

EverCommerce Stock Down 1.0%

Shares of NASDAQ EVCM traded down $0.08 during trading hours on Monday, hitting $8.14. 11,688 shares of the stock were exchanged, compared to its average volume of 143,056. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.44 billion, a PE ratio of 54.40, a PEG ratio of 0.80 and a beta of 0.63. The firm has a fifty day moving average price of $8.56 and a 200-day moving average price of $10.25. EverCommerce has a 12 month low of $6.01 and a 12 month high of $14.41.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). The firm had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $152.91 million. EverCommerce had a net margin of 4.81% and a return on equity of 4.00%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. On average, sell-side analysts expect that EverCommerce will post 0.52 EPS for the current year.

Insider Activity

In other news, Director Eric Remer sold 47,353 shares of EverCommerce stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total transaction of $390,188.72. Following the completion of the sale, the director directly owned 5,022,792 shares in the company, valued at approximately $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 431,327 shares of company stock valued at $4,069,251 over the last three months. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Several hedge funds have recently made changes to their positions in EVCM. BlackRock Inc. purchased a new position in EverCommerce in the 2nd quarter worth $10,724,000. Black Diamond Financial LLC acquired a new stake in EverCommerce during the 3rd quarter worth about $2,464,000. CoreCap Advisors LLC acquired a new stake in EverCommerce during the 2nd quarter worth about $2,716,000. Bank of New York Mellon Corp purchased a new stake in EverCommerce during the 2nd quarter valued at about $324,000. Finally, Bank of America Corp DE grew its stake in EverCommerce by 202.9% during the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock valued at $547,000 after purchasing an additional 32,053 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

About EverCommerce

EverCommerce, Inc is a software and technology company that provides integrated, cloud-based solutions for service-oriented small and midsize businesses. Its platforms are designed to help businesses manage operations, customer relationships, payments, marketing and other administrative functions through specialized applications tailored to specific industries.

The company serves a broad range of vertical markets, including home and field services, health and wellness, fitness, education, professional services and other appointment- or membership-based businesses.