Canaccord Genuity Group Trims EverCommerce (NASDAQ:EVCM) Target Price to $17.00

EverCommerce (NASDAQ:EVCM – Get Rating) had its price target dropped by Canaccord Genuity Group from $20.00 to $17.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the stock.

A number of other analysts also recently issued reports on the stock. Oppenheimer reiterated a “buy” rating and issued a $18.00 price objective on shares of EverCommerce in a report on Tuesday, March 15th. Stifel Nicolaus cut their price target on shares of EverCommerce from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on EverCommerce from $23.00 to $18.00 in a report on Friday, January 21st. Royal Bank of Canada lowered their price target on EverCommerce from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 15th. Finally, Barclays decreased their target price on shares of EverCommerce from $21.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, January 27th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, EverCommerce currently has an average rating of “Buy” and a consensus target price of 19.93.

Shares of NASDAQ EVCM opened at 10.64 on Tuesday. The company has a fifty day moving average price of 12.82 and a 200 day moving average price of 14.34. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.54. EverCommerce has a 1-year low of 10.17 and a 1-year high of 23.41.

EverCommerce (NASDAQ:EVCM – Get Rating) last issued its quarterly earnings results on Monday, March 14th. The company reported -0.01 EPS for the quarter, missing analysts’ consensus estimates of 0.07 by -0.08. The firm had revenue of 135.65 million during the quarter, compared to the consensus estimate of 130.38 million. As a group, sell-side analysts forecast that EverCommerce will post 0.25 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund bought a new stake in shares of EverCommerce in the third quarter valued at approximately $96,000. Deutsche Bank AG acquired a new stake in shares of EverCommerce during the 3rd quarter worth $176,000. BlackRock Inc. bought a new position in shares of EverCommerce in the third quarter worth $15,459,000. Teacher Retirement System of Texas acquired a new position in EverCommerce in the third quarter valued at about $1,237,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in EverCommerce during the third quarter worth about $2,102,000. Institutional investors and hedge funds own 87.59% of the company’s stock.

EverCommerce Company Profile (Get Rating)

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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