Piper Sandler Cuts EverCommerce (NASDAQ:EVCM) Price Target to $9.00

EverCommerce (NASDAQ:EVCM) had its target price dropped by equities researchers at Piper Sandler from $11.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential downside of 3.85% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Oppenheimer lowered their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group reduced their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday. Barclays cut their target price on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group cut their price objective on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada decreased their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.09.

EverCommerce Stock Performance

EverCommerce stock opened at $9.36 on Monday. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The stock’s 50 day simple moving average is $10.17 and its two-hundred day simple moving average is $10.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. As a group, analysts expect that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 10,117 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $9.05, for a total transaction of $91,558.85. Following the completion of the sale, the chief executive officer now directly owns 7,686,872 shares in the company, valued at $69,566,191.60. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Matthew David Feierstein sold 20,401 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the sale, the president now directly owns 2,217,294 shares of the company’s stock, valued at $23,968,948.14. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,865 shares of company stock valued at $1,950,085. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after acquiring an additional 22,360 shares during the period. JPMorgan Chase & Co. lifted its position in EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock valued at $1,059,000 after purchasing an additional 63,139 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in EverCommerce in the third quarter worth about $536,000. Janus Henderson Group PLC raised its stake in shares of EverCommerce by 1.2% in the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after buying an additional 3,837 shares during the period. Finally, State Street Corp lifted its position in shares of EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after buying an additional 12,156 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

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.