Piper Sandler Downgrades EverCommerce (NASDAQ:EVCM) to Neutral

Piper Sandler lowered shares of EverCommerce (NASDAQ:EVCMGet Rating) from an overweight rating to a neutral rating in a report released on Monday, Marketbeat Ratings reports. Piper Sandler currently has $9.00 price target on the stock, down from their prior price target of $11.00.

A number of other analysts have also recently weighed in on EVCM. Oppenheimer decreased their price objective on EverCommerce from $18.00 to $14.00 and set an outperform rating for the company in a research report on Friday, November 11th. Jefferies Financial Group dropped their price target on shares of EverCommerce from $13.00 to $9.00 in a research note on Friday, November 11th. Canaccord Genuity Group reduced their price objective on shares of EverCommerce from $17.00 to $12.00 in a research report on Friday, November 11th. The Goldman Sachs Group dropped their target price on EverCommerce from $8.00 to $7.00 and set a sell rating on the stock in a research report on Monday, November 14th. Finally, Barclays reduced their price target on EverCommerce from $17.00 to $9.00 and set an equal weight rating for the company in a report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of 12.79.

EverCommerce Price Performance

Shares of EVCM opened at 6.62 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 1.85. EverCommerce has a fifty-two week low of 5.93 and a fifty-two week high of 17.72. The firm has a 50-day simple moving average of 8.92 and a 200-day simple moving average of 9.95. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -27.58, a price-to-earnings-growth ratio of 0.81 and a beta of 1.33.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 2,611 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of 11.17, for a total transaction of 29,164.87. Following the completion of the transaction, the chief executive officer now directly owns 1,407,335 shares in the company, valued at approximately 15,719,931.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 6,318 shares of company stock worth $70,572 in the last three months. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of EverCommerce

Several institutional investors and hedge funds have recently made changes to their positions in EVCM. UBS Group AG raised its stake in EverCommerce by 871.7% in the 3rd quarter. UBS Group AG now owns 2,711 shares of the company’s stock valued at $29,000 after purchasing an additional 2,432 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of EverCommerce by 82.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company’s stock worth $31,000 after buying an additional 1,053 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of EverCommerce in the third quarter valued at approximately $38,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 stake in EverCommerce by 507.2% in the second quarter. Lazard Asset Management LLC now owns 5,398 shares of the company’s stock valued at $48,000 after purchasing an additional 4,509 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About EverCommerce

(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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Analyst Recommendations for EverCommerce (NASDAQ:EVCM)

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