Barclays Issues Pessimistic Forecast for EverCommerce (NASDAQ:EVCM) Stock Price

by · The Markets Daily

EverCommerce (NASDAQ:EVCM – Get Free Report) had its price target decreased by research analysts at Barclays from $12.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 5.56% from the company’s current price.

A number of other research analysts have also commented on EVCM. Jefferies Financial Group lowered their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday. Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.60.

Get Our Latest Stock Report on EVCM

EverCommerce Stock Performance

Shares of EVCM stock traded up $0.58 during trading hours on Friday, reaching $9.53. The stock had a trading volume of 149,032 shares, compared to its average volume of 104,002. The firm has a market capitalization of $1.75 billion, a PE ratio of -34.03 and a beta of 1.12. The firm has a 50-day simple moving average of $10.20 and a 200-day simple moving average of $10.72. EverCommerce has a twelve month low of $6.22 and a twelve month high of $12.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81.

EverCommerce (NASDAQ:EVCM – Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’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 posted ($0.12) EPS. As a group, equities analysts forecast that EverCommerce will post -0.17 earnings per share for the current year.

Insider Activity

In other news, President Matthew David Feierstein sold 2,888 shares of EverCommerce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total value of $28,908.88. Following the transaction, the president now directly owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric Richard Remer sold 9,404 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.06, for a total transaction of $85,200.24. Following the completion of the transaction, the chief executive officer now directly owns 7,707,226 shares of the company’s stock, valued at $69,827,467.56. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,748 shares of company stock worth $1,858,526. Insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Several institutional investors and hedge funds have recently bought and sold shares of EVCM. Woodline Partners LP lifted its position in EverCommerce by 24.8% in the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock worth $5,891,000 after buying an additional 106,359 shares in the last quarter. State Street Corp raised its holdings in shares of EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after acquiring an additional 12,156 shares in the last quarter. Janus Henderson Group PLC boosted its position in EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after purchasing an additional 110,183 shares during the last quarter. Northern Trust Corp boosted its position in EverCommerce by 4.2% during the fourth quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock valued at $2,194,000 after purchasing an additional 7,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after purchasing an additional 1,092 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About EverCommerce

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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.

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