EverCommerce Inc. (NASDAQ:EVCM – Get Rating)'s share price traded up 5.9% on Friday . The company traded as high as 7.05 and last traded at 7.01. 5,534 shares changed hands during trading, a decline of 98% from the average session volume of 236,618 shares. The stock had previously closed at 6.62.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Royal Bank of Canada cut their price objective on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, November 11th. The Goldman Sachs Group lowered their price target on shares of EverCommerce from $8.00 to $7.00 and set a "sell" rating for the company in a report on Monday, November 14th. Oppenheimer lowered their price target on shares of EverCommerce from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, November 11th. Canaccord Genuity Group lowered their price target on shares of EverCommerce from $17.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 11th. Finally, Barclays lowered their price target on shares of EverCommerce from $17.00 to $9.00 and set an "equal weight" rating for the company in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of 12.79.
Get EverCommerce alerts:EverCommerce Trading Up 4.4 %
The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.34 billion, a P/E ratio of -28.79, a P/E/G ratio of 0.80 and a beta of 1.33. The company's 50 day simple moving average is 8.82 and its 200-day simple moving average is 9.92.
EverCommerce (NASDAQ:EVCM – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported -0.07 EPS for the quarter, missing analysts' consensus estimates of 0.06 by -0.13. The company had revenue of 158.13 million for the quarter, compared to analysts' expectations of 159.99 million. EverCommerce had a negative return on equity of 3.79% and a negative net margin of 7.87%. As a group, research analysts predict that EverCommerce Inc. will post 0.28 earnings per share for the current fiscal year.Insider Transactions at EverCommerce
In other news, CEO Eric Richard Remer sold 2,611 shares of the firm's stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of 11.17, for a total transaction of 29,164.87. Following the transaction, the chief executive officer now directly owns 1,407,335 shares of the company's stock, valued at 15,719,931.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 6,318 shares of company stock valued at $70,572. 9.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On EverCommerce
A number of institutional investors have recently modified their holdings of EVCM. UBS Group AG increased its holdings in EverCommerce by 871.7% during the third quarter. UBS Group AG now owns 2,711 shares of the company's stock valued at $29,000 after buying an additional 2,432 shares during the period. Ameritas Investment Partners Inc. increased its holdings in EverCommerce by 82.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company's stock valued at $31,000 after buying an additional 1,053 shares during the period. Ensign Peak Advisors Inc purchased a new position in EverCommerce during the third quarter valued at approximately $38,000. Tower Research Capital LLC TRC increased its holdings in EverCommerce by 379.4% during the third quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company's stock valued at $40,000 after buying an additional 2,868 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in EverCommerce by 507.2% during the second quarter. Lazard Asset Management LLC now owns 5,398 shares of the company's stock valued at $48,000 after buying an additional 4,509 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.
About EverCommerce
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EverCommerce Inc, together with its subsidiaries, engages in providing 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, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.
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