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

EverCommerce Inc. (NASDAQ:EVCM) has been given an average rating of “Reduce” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.00.

Several brokerages have issued reports on EVCM. Raymond James Financial downgraded shares of EverCommerce from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 6th. Royal Bank Of Canada downgraded EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a research report on Monday, January 5th. Zacks Research lowered EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Barclays dropped their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a report on Thursday, January 22nd.

Insider Activity

In other EverCommerce news, CEO Eric Richard Remer sold 32,706 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $27,963,081.93. This represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew David Feierstein sold 10,921 shares of EverCommerce stock in a transaction dated 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 owned 2,100,919 shares of the company’s stock, valued at approximately $21,072,217.57. This trade represents a 0.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,348 shares of company stock valued at $4,323,399 in the last three months. 10.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently bought and sold shares of EVCM. Federated Hermes Inc. increased its position in EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after purchasing an additional 1,667 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of EverCommerce during the 3rd quarter valued at $91,000. R Squared Ltd acquired a new stake in shares of EverCommerce during the 3rd quarter worth $122,000. Prudential Financial Inc. increased its holdings in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the last quarter. Finally, Inceptionr LLC purchased a new position in shares of EverCommerce in the 2nd quarter worth $159,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Price Performance

Shares of NASDAQ EVCM opened at $11.48 on Friday. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -1,146.85, a PEG ratio of 2.34 and a beta of 1.04. EverCommerce has a 52 week low of $7.66 and a 52 week high of $14.41. The company’s 50-day moving average price is $11.50 and its 200 day moving average price is $11.05. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.71.

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.